The Dogecoin two-day candlestick chart has returned to the same accumulation shelf that preceded its five-fold burst last autumn. Independent market technician, Astronomer (@astronomer_zero), argues that the pattern “looks bottomed—early call, and I’m long.” The strategist, who previously flagged Bitcoin’s April higher-low prior to its surge past $69,000, told followers on X that DOGE now presents a “6R+ trade” opportunity back into December’s supply wall.
The Dogecoin Bottom Is In
The updated chart illustrates that price is printing successive wicks into a lavender demand band that begins at $0.12 and tops out just below $0.15. To date, every test of that floor has been absorbed, resulting in a series of higher two-day closes. “Alright, DOGE only moved slightly off the low,” Astronomer commented, “so there still is a 6R+ trade to be scored if it were to reach the highs.”
The black horizontal line at $0.18210 signifies the first decisive reclaim. The session on Sunday opened at $0.18141, rebounded to $0.18210, and settled at $0.17548—slightly under the trigger but well clear of the grey value area that defines the analyst’s risk box. For traders utilizing tight stops, the invalidation sits just below $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,” Astronomer added, “a long position also makes sense.”
Technically, the structure mirrors October 2024, when DOGE created a rounded base at $0.10. It ignited on rising volume and peaked at $0.48527 just eight weeks later. “Last time we exited the range mindset was October ‘24, where we purchased DOGE at 10 cents,” the analyst recollected. “It executed a 5x increase before retracing into what I believe has now become a higher low.”
The projection illustrated on the chart anticipates a one to two month sideways movement within the grey band that caps at approximately $0.175, followed by a stair-step advance into the low-$0.30 range and an autumn test of the December pivot.
None of the drawn arrows break through the previous high, emphasizing that the strategy is not dependent on price discovery—only on mean-reversion to the last significant supply node. “Given this is an altcoin and that expectations likely exceed $0.5, holding substantial spot bags already incurs minimal risk,” he noted. “These may still take time and may progress slower than BTC, but in my opinion, the risk-reward ratio will be higher.”
As always, confirmation will arrive—or fail—on the tape. A two-day close above $0.20000 would establish a higher-time-frame reversal and expose $0.30 liquidity, while a settlement below $0.12982 would invalidate the setup and reopen the potential for a return to the 10-cent level. Until then, Astronomer’s call rests on the premise that Bitcoin bottoms first, Ethereum follows, and “one by one, altcoins bottom out through cyclical timing, sentiment, and their respective points of interest.” According to him, Dogecoin has just ticked every box.
At press time, DOGE traded at $0.173.
