The Dogecoin two-day candlestick chart has returned to the same accumulation shelf that preceded its five-fold burst last autumn
The Dogecoin two-day candlestick chart has returned to the same accumulation shelf that preceded its five-fold burst last autumn, and independent market technician Astronomer (@astronomer_zero) argues the pattern “looks bottomed—early call, and I’m long.” The strategist, who flagged Bitcoin’s April higher-low before it erupted through $69 000, tells followers on X that DOGE now offers a “6R+ trade” back into December’s supply wall.
The updated chart shows price printing successive wicks into a lavender demand band that begins at $0.12and tops out just below $0.15000. So far every test of that floor has been absorbed, leaving a series of higher two-day closes. “Alright, DOGE only moved slightly off the low, so there still is a 6R+ trade to be scored if it were to go to the highs.”
The black horizontal at $0.18210 marks the first decisive reclaim. Sunday’s session opened at $0.18141, punched to $0.18210, and settled at $0.17548—fractionally under the trigger but well clear of the grey value area that defines the analyst’s risk box. For traders running tight stops, the invalidation sits just under $0.12982, limiting downside to roughly twelve-and-a-half cents while keeping the full upside open to a $0.40000–0.48527 liquidity void shaded in emerald green. “If you want a defined risk for a defined reward, a long as presented also makes sense.”
Technically the structure mimics October 2024, when DOGE carved a rounded base at $0.10, ignited on rising volume, and topped out at $0.48527 eight weeks later. “Last time we left the range mindset was October ‘24 and we bought DOGE at 10 c. It pulled a 5x before retracing for what IMO now has become a higher low.”
The projection sketched on the chart anticipates a one to two months sideways chop inside the grey band that caps at roughly $0.175, followed by a staircase advance into the low-$0.30s and an autumn test of the December pivot.
None of the hand-drawn arrows pierce the old high, underscoring that the thesis is not predicated on price discovery—only on a mean-reversion to the last heavy supply node. “Given this is an altcoin and expectations are likely beyond 0.5, having heavy spot bags already pays for little risk. They still may take time and take off slower than BTC, but the RR IMO will be higher.”
As ever, confirmation will come—or fail—on the tape. A two-day close above $0.20000 would establish a higher-time-frame reversal and expose $0.30 liquidity, whereas a settlement beneath $0.12982 would invalidate the setup and reopen the 10-cent handle. Until then, Astronomer’s call rests on the premise that Bitcoin bottoms first, Ethereum follows, and “one by one, alts bottom out through cyclical timing, sentiment, and their respective POIs.” Dogecoin, he maintains, just ticked every box.
At press time, DOGE traded at $0.173.
