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Dogecoin DOGE/USD Bounces off Historic Lows Against BTC

Guavy AI Editorial Team
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BTC DOGE DOG
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Prominent crypto trader and analyst Josh Olszewicz (@CarpeNoctom) has noted that Dogecoin (DOGE/USD) might be nearing an inflection point in its long-standing downtrend against Bitcoin.

The DOGEBTC pair has been trapped in a massive downtrend since the parabolic blow-off top in early 2021, but it's currently compressing into a tight range that last saw levels right before the massive 2021 breakout.

Olszewicz believes this compression could precede an explosive expansion, and he points to a falling wedge breakout or mean-reversion bounce from historical cyclical lows as potential catalysts for DOGEBTC's reversal.

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