DOGE just broke down from that ascending channel we've been watching - multiple candles have now closed beneath the support line.
The setup looked incredibly bullish not long ago, but the current price action? Pretty rough. At this point, it'd take something extraordinary to salvage the technical picture. The momentum shift is real, and traders who were riding that channel are probably reassessing their positions right now.
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HodlKumamon
· 12-06 13:58
Broke through the level again, the bear's chart needs to be redrawn again, sigh.
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The statistical significance of this drop is actually quite clear; the probability of support breaking has already exceeded 85%.
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[Sigh] The channel has been broken, that's just how it is, nothing much to argue about. Now it's all about whether a new support can be found.
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Bear just calculated, in the previous 23 occurrences of this pattern, it always dropped to find a new bottom before rebounding. This year's probability model isn't that optimistic for now.
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Poor channel traders, they're probably all regretting it right now, haha.
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[Serious face] The Sharpe ratio has plummeted. Honestly, this is a good opportunity for dollar-cost averaging.
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Oh my, got trapped again. Maybe we should just treat it as dollar-cost averaging.
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Layer3Dreamer
· 12-06 13:42
theoretically speaking, if we map this breakdown across a cross-rollup liquidity bridge framework... the state verification breaks down just like DOGE's support did. recursive SNARKs couldn't even save this one ngl
DOGE just broke down from that ascending channel we've been watching - multiple candles have now closed beneath the support line.
The setup looked incredibly bullish not long ago, but the current price action? Pretty rough. At this point, it'd take something extraordinary to salvage the technical picture. The momentum shift is real, and traders who were riding that channel are probably reassessing their positions right now.