Will Dogecoin $DOGE skyrocket in 7 days?
The price action, which extends from last October's vertical rally to the present, has drawn a broad downward trendline that limits each significant high: first the peak in December just above $0.48, then a second lower reaction high in mid-January, around $0.43, and a third high ten days ago, around $0.26. This trendline remains intact, but crucially, it now sits just a few percentage points above the market.
Within this broader bearish trend, Bitcoinsensus highlights an inverted head and shoulders pattern, whose left shoulder bottomed out near $0.142 in mid-March, whose head extended to approximately $0.141 in early April, and whose right shoulder formed in early May around $0.164. The neckline of this structure is not horizontal; it slopes slightly from left to right and intersects the chart just above $0.185. The analyst marks the daily candle of May 8 with a red circle labeled "Breakout," indicating that the minimum technical requirement for pattern confirmation has already been met
