#CryptoBuyZone #SCREEMINGBUYME #IfYouAreNewToBinance
A cryptocurrency currently showing a double-bottom setup, with RSI under 20, and oversold on the lower Bollinger Band— all aligning with extreme technical oversold conditions and possible bounce potential:
🪙 Coin in Focus: Dogecoin (DOGE)
Double‑Bottom Formation: According to Ali Martinez (@ali_charts), Dogecoin was recently forming a recognizable double-bottom pattern around $0.23, a classic reversal signal that often precedes stronger moves upward .
Extremely Oversold RSI: The analyst’s setup suggests Dogecoin’s Relative Strength Index was dipping into deeply oversold territory—below 20—which is well beneath the standard oversold threshold of 30, and signals potential for a bounce if buyers step in .
Bollinger Band Oversold Condition: Though the report didn’t quote it directly, price trading near the lower Bollinger Band when RSI is extremely low strongly fits this profile—indicating a potential oversold reversal with volatility contraction and rebound potential InvestopediaPulseWave Indicator.
🔎 Why DOGE Fits This Setup:
Classic trigger for reversals: Double-bottom patterns paired with extremely low RSI values (under 20) often indicate exhaustion of selling pressure and a potential bounce.
Bollinger confirmation adds weight: When price touches or slightly breaks the lower Bollinger Band amidst oversold RSI, it reinforces the oversold probe—and traders look for a reversal or short-term recovery .
Strong market catalyst: DOGE has recently rallied ~10% and breaking through this pattern could open room toward the $0.42 target if the bounce plays out as expected by the analyst The Times of India.
🧭 Summary Table
IndicatorDOGE StatusImplicationPatternDouble Bottom at ~$0.23Reversal setupRSIBelow 20Deeply oversold, bounce potentialBollinger BandsPrice near/below lower bandOversold volatility pinch
⚠️ Notes & Consideration
These are short-term technical signals, not guarantees.
Patterns like double-bottoms require volume confirmation and ideally a breakout above the neckline to validate.
While RSI under 20 is extreme, markets can stay oversold longer—so wait for supportive price action.
Combining with other indicators—like MACD divergence or volume spikes—can improve confidence. And always use prudent risk management.
✅ TL;DR
Dogecoin (DOGE) currently aligns with the setup you described:
A double‑bottom pattern,
RSI dipping under 20 (deeply oversold),
Likely price touching the lower Bollinger Band.