DOGE coin has been setting itself up for a breakout since May 6th, which could be coming very soon. What we are looking for is an increase in volume and a push past the downtrend resistance line to break free.
Currently holding a position @ 0.311 Stop loss is set at 0.295
If we break to the upside, 1st Target: 0.47 2nd Target: 0.63
I believe your play idea is great and it was just slightly early, I've done this in the past and what I see is ITS STILL LIKELY TO BREAK OUT SOON currently it's trading under .25 I've seen the same as you with the trend line and break out potential on this and reference the 4hr chart to see if it's giving buy signals to see if it's likely to run enough to trigger a buy on the daily chart or not, RSI was over 70 on the 2hr chart when doge hit .29+ which was a sell indicator, look at the RSI pattern in reference to the stock chart and you'll see last doge hit .44+ rsi was 70+ on 2 hr when doge hit .74 RSI also showed overbought and major bearish reversal occured "every time" it helps me predict uptrend continuation, predict reversal (reversal" or healthy pull back, when i look at multiple time frames from short term to daily chart and what the "patterns of behavior" are historically when the technical indicators show what they do & how the chart reacted in the past. I hope I communicated clearly in a helpful way and wish you all the best.