Pretty self explanitory. DOGE has been in a downward spiral the past few months after hitting an all time high of 60 satoshis.
25 satoshis is strong historical support. However, be aware it has dipped as low as 21 satoshis last year.
RSI has flipped to the upside...but unimpressive volume and no follow through.
I'd like to think this idea is valid if it can hold 25 satoshis. Else, I really wouldn't want to be part of a trade if it breaks that line.
Resolution of the formation should come by the end of september/early october, at which point it will most likely either break to the upside hard or break down another level.
I'd recommend not trading this on leverage, as btc has been quite bullish lately, and the trade volume on DOGE is virtually non existent.
I'd say this is a medium risk trade, so be cautious and use a small portion of your capital.
This is not financial advice.