Dogecoin (DOGE) has recently faced a significant setback as it failed to retest the crucial $0.20 level on the monthly timeframe. As a result of this failure, the cryptocurrency has retreated into a confluent support area, consisting of the Range Low at $0.12 and the Macro Downtrend, from which it had previously broken out last month.

狗狗币 (DOGE) 最近面临重大挫折，因为它未能在每月时间范围内重新测试关键的 0.20 美元水平。由于这次失败，加密货币已回落至汇合支撑区域，其中包括 0.12 美元的区间低点和上个月突破的宏观下行趋势。

As DOGE now finds itself within this range, the chances of a recovery above the Range High appear to be slim, suggesting that the cryptocurrency may be destined to consolidate within this black-red range for the foreseeable future. However, Rekt Capital expects the Range Low area to offer the best bargain opportunity.

由于 DOGE 现在发现自己处于该区间内，因此恢复到区间高点上方的可能性似乎很小，这表明在可预见的未来，加密货币可能注定会在这个黑红色区间内盘整。然而，Rekt Capital 预计区间低点区域将提供最佳的讨价还价机会。

Weekly Timeframe Shows Strong Buy-Side Interest at Range Low

每周时间框架显示买方对区间低点有强烈兴趣

On the weekly timeframe, the Range Low has been acting as a robust support level, with numerous downside wicks extending into the Range Low and Macro Downtrend over the past several weeks. This indicates a strong buy-side interest in this confluent area of support.

在每周时间范围内，区间低点一直充当着强劲的支撑位，过去几周有许多下行影线延伸至区间低点和宏观下行趋势。这表明买方对这个支撑汇合区域有强烈的兴趣。

The buying pressure at the Range Low has allowed DOGE to reclaim the bottom of the Bull Flag it had broken out from many weeks ago. For DOGE to lose this level, it would need to close below the Bull Flag bottom on the weekly timeframe, which has not occurred yet.

区间低点的买盘压力使狗狗币重新夺回了几周前突破的牛旗底部。如果狗狗要失去这个水平，它需要收于周时间范围内的牛旗底部下方，但目前尚未发生。

Potential Head and Shoulders Formation to Watch
One scenario to keep an eye on is the potential development of a Head and Shoulders (H&S) formation. If DOGE were to rebound from the old Bull Flag bottom to the old Bull Flag top but then reject, forming a Right Shoulder, a loss of the old Bull Flag bottom (which would act as the Neckline) could enable this H&S formation.

WatchOne 需要关注的潜在头肩形态是头肩 (H&S) 形态的潜在发展。如果 DOGE 从旧牛旗底部反弹至旧牛旗顶部，但随后拒绝，形成右肩，则旧牛旗底部（将充当颈线）的损失可能会促成这种 H&S 形态。

In this case, the price could drop into the Range Low, but this time as candle-bodies rather than wicks. Breaking beyond the Bull Flag Top would invalidate this H&S formation, while losing the Bull Flag Bottom (neckline) after rejecting from the Bull Flag Top would validate it.

在这种情况下，价格可能会跌至区间低点，但这次是烛身而不是影线。突破牛旗顶部将使该 H&S 形态无效，而在拒绝牛旗顶部后失去牛旗底部（颈线）则使其有效。