DOGE/BTC Trend Analysis
The chart shows the weekly line. Pay attention to the recent potential occurrence of a false breakdown (yellow box) that has happened in the past, along with the inertia of the descending trend line (blue line). The last time there was a breakout followed by a pullback, it held the Fibonacci 0.618 retracement line. Whether it can hold the 0.618 this time remains to be seen, as the distance is too close, and the worst-case scenario could see it being washed out. However, if it really breaks below 0.00000319 BTC and then pulls back up with a breakout and increased volume, it could be an opportunity to buy the dip.
The bottom right corner of the chart provides additional daily line information. In the best-case scenario, if the short-term holds the blue descending trend line and subsequently increases volume to attack, a trigger order can be set at the previous high of 0.00000492 BTC. Friends looking to add positions can also consider increasing their holdings upon a breakout. Conversely, if it breaks the line, it's advisable to hedge.