📊 4H Chart Analysis 
DOGEUSDT.P
DOGE previously broke out of an Adam & Eve pattern, leading to a strong rally. However, price has now retraced back to the pattern's support zone, which is a critical decision point for the next move.
🔍 Key Levels to Watch
🟢 Support Zone: The previous neckline is now acting as support. A strong bounce could confirm this level as a solid demand zone.
🔴 Breakdown Risk: If price fails to hold and closes below this level, we could see a further drop to lower liquidity areas.
🎯 Possible Trade Setups
✅ Bullish Scenario (Long Entry)
Entry: Around support zone after confirmation.
Targets: First FVG zone, then major resistance.
Stop-loss: Below breakdown of support.
❌ Bearish Scenario (Short Entry)
Entry: Below the support breakdown.
Targets: Lower FVG and structural support levels.
Stop-loss: Above the reclaimed support level.
🚨 Final Thoughts
DOGE is at a make-or-break level. A bounce from here could trigger another push higher, while a breakdown may lead to further declines. Keep an eye on volume and price action before entering a trade.
📢 What do you think? Will DOGE hold support or break down? Comment below!
DOGEUSDT.P DOGE previously broke out of an Adam & Eve pattern, leading to a strong rally. However, price has now retraced back to the pattern's support zone, which is a critical decision point for the next move.
🔍 Key Levels to Watch
🟢 Support Zone: The previous neckline is now acting as support. A strong bounce could confirm this level as a solid demand zone.
🔴 Breakdown Risk: If price fails to hold and closes below this level, we could see a further drop to lower liquidity areas.
🎯 Possible Trade Setups
✅ Bullish Scenario (Long Entry)
Entry: Around support zone after confirmation.
Targets: First FVG zone, then major resistance.
Stop-loss: Below breakdown of support.
❌ Bearish Scenario (Short Entry)
Entry: Below the support breakdown.
Targets: Lower FVG and structural support levels.
Stop-loss: Above the reclaimed support level.
🚨 Final Thoughts
DOGE is at a make-or-break level. A bounce from here could trigger another push higher, while a breakdown may lead to further declines. Keep an eye on volume and price action before entering a trade.
📢 What do you think? Will DOGE hold support or break down? Comment below!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.