Dogecoin price is on the verge of a 70% downturn

• Dogecoin price risks invalidating the falling wedge pattern after six weeks of failed attempts to break out.
• A breakdown of the lower trend line of the wedge at $0.087 will trigger a bearish descent.
• A weekly candlestick close above $0.159 will invalidate the bearish outlook.

Dogecoin price is grappling with the lower trend line of a bullish pattern. This development comes after a wildly bullish narrative over the last few weeks. Therefore, investors need to pay attention to Bitcoin’s directional bias.