Quick summary
DOGE has broken down from an ascending wedge and is sitting at long-term base support with two stacked limit orders waiting at −8% and −12% below base. A reclaim of 0.00000135 XBT is the play.
What is XDG/XBT?
Dogecoin is the original meme coin one of the most liquid and recognisable cryptocurrencies in the world. This pair prices DOGE directly against BTC on Kraken, showing how DOGE is performing relative to hard money.
Trade Setup
Base: 0.00000135 XBT
Current price: 0.00000122 XBT, below base
Position: broken below base and sitting in the limit order zone
Levels
Entry 1: −8% below base → 0.00000124 XBT
Entry 2: −12% below base → 0.00000119 XBT
Exit: +6% from entry → 0.00000131 XBT
Panic: close and hold below 0.00000119 with no reclaim
Zoomed out: the ascending wedge from April/May has broken down and reset price to long-term base support. A reclaim of 0.00000135 puts the prior highs back in play.
Closer Look
Disclaimer
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Written by
Andrew Kamsky
Andrew Kamsky is a Bitcoin analyst. He spent a decade in traditional finance across a Big Four firm and a listed fintech bank before going deep on Bitcoin full-time.
