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Dogecoin Forms 'Monster Falling Wedge' Pattern: What It Means
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Dogecoin Forms ‘Monster Falling Wedge’ Pattern: What It Means

Jake Simmons
Jake Simmons
3 months ago
2 mins read
Dogecoin price news

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In a post on X today, crypto analyst Satoshi Flipper (@SatoshiFlipper) shared a daily chart of DOGE/USDT on Binance that highlights what he calls a “monster falling wedge.” The chart shows Dogecoin’s price moving within two converging trendlines—one descending from the coin’s recent swing highs, and the other descending at a shallower angle from its short‐term lows, forming a classic wedge structure.

Buy Or Sell Dogecoin Now?

According to the chart, Dogecoin is currently trading in the $0.21–$0.22 range, hovering just above the wedge’s lower boundary. This trendline extends from the coin’s mid‐December levels—when Dogecoin first began its downward trajectory—through its successive lower lows, culminating near the apex in early March. Meanwhile, the upper boundary of the wedge connects a series of descending peaks from the coin’s local highs, including one in mid-January, sloping downward into the same apex region.

Dogecoin monster falling wedge pattern
Dogecoin monster falling wedge pattern | Source: X @SatoshiFlipper

A ‘falling wedge’ is typically viewed by technical traders as a potential bullish reversal pattern, particularly when accompanied by decreasing volume during the consolidation phase. The idea is that as sellers become exhausted, buyers may begin stepping in near the wedge’s support line, driving price momentum upward once the resistance line is broken.

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If Dogecoin Falls Below This Level, A Freefall To $0.06 Is Possible: Analyst

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In the chart Satoshi Flipper shared, a dashed arrow projects a possible bullish move if Dogecoin can decisively break above the wedge’s top boundary. While no guarantees exist in crypto markets, this hypothetical trajectory arcs from current price levels around $0.21 to as high as the $0.50 region by late-April. The chart also shows a notable horizontal support zone below the market, hovering around $0.10–$0.15, which dates back to Dogecoin’s earlier base before its large run‐up.

Meanwhile, sentiment among other crypto analysts on X appears divided. Carlos Garcia Tapia (@CAGThe3rd) cautions that he sees “h patterns everywhere” and suggests a potential retracement before the next leg down: “Sad to say, this is all cooked, bois. DOGE 14 cents :(“

Dogecoin price analysis
Dogecoin price analysis | Source: X @CAGThe3rd

In response to another user who was unfamiliar with the “h pattern,” Tapia reiterated his view of a likely downward move. “Pretty much a retracement before the next leg down,” he stated. “This contrasts with the more optimistic stance from Suzzy | DeFi (@SuzzyDefi), who highlighted a strong wick off the $0.19–$0.20 support zone:

Related Reading

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Dogecoin Warning: One Level Could Trigger A Surge, Says Analyst

3 months ago

“Took a glance at DOGE, and I just spotted a strong wick off the $0.19 – $0.20 support, giving me serious bullish vibes! Buyers are stepping in, and if we see a green candle next, DOGE could be heading toward $0.25+ soon.”

Dogecoin bottom signal?
Dogecoin bottom signal? | Source: X @SuzzyDefi

At press time, DOGE traded at $0.20635.

Dogecoin price
DOGE could drop to $0.176, 1-day chart | Source: DOGEUSDT on TradingView.com
Featured image created with DALL.E, chart from TradingView.com
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Jake Simmons
Jake Simmons

Jake Simmons

Jake Simmons, a dedicated crypto journalist, has been passionate about Bitcoin since 2016 when he first learned about it. Through his extensive work with NewsBTC.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field.

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His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone.
With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake’s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage.

Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control.

For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality.

As a journalist, Jake’s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies.

In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it’s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake’s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time.

You can engage with his latest takes on Twitter: @realJakeSimmons.

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