Lower cost basis line being tested and at the moment respected!
No great churn or capital replacement evidenced (refer to the lower oscillator) This means a couple of things: - the 'crowd' is not yet chucked-in the towel and given up on Doge - cost basis for these traders is at or around breakeven / underwater (about of Doge's 10% capitalisation) - there appears to have been a controlled liquidation underway / the bid hasn't been hit aggressively by 'panic'ed sellers' - yet!
If you are going long on the those wicks at the bottom - just be cautious and use common sense. Which means: - exposure management - understand downside potential (the bottom line)