Dogecoin At Make-Or-Break Point After Multi-Year Trendline Test

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Dogecoin At Make-Or-Break Point After Multi-Year Trendline Test - NewsBTC

Quick Summary:

A sweep & retake signals some short term relief and these levels can offer a clean invalidation level afterwards.” This aligns with the technical observation that DOGE’s recent price action may represent a sweep of liquidity below a key level, followed by a recovery above support — a typical short-term bullish reversal pattern in crypto markets.

This Pattern Could Trigger A Parabolic’ Surge Price action in recent weeks also shows DOGE breaking down from a bearish flag or channel formation, with the breakdown accelerating toward the confluence of the 0.786 Fibonacci level and the descending trendline retest.

While the candle also displays a modest upper wick, the dominance of the lower shadow signals that buyers absorbed aggressive sell pressure below the trendline and pushed the price back above the 0.786 Fibonacci level – a strong bullish signal.