DOGE / USDTShort
DOGE/USDT 1H: Bears in Control – Targeting $0.31500 Next!
DOGE/USDT 1H Chart Analysis
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Current Market Condition:
Key Levels:
Trade Setup (Confidence 8/10):
Market Maker Intent:
Recommendation:
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Current Market Condition:
- Bearish consolidation at $0.33146 with strong resistance at $0.34000 (Premium Zone).
- RSI: Bearish divergence at 49.69, indicating continued downside pressure.
Key Levels:
- Resistance Zone: $0.34000 - $0.34500.
- Support Levels:
- T1: $0.32500 (Equilibrium Zone).
- T2: $0.31500 (Discount Zone).
- Stop Loss: Above $0.34500 for short positions.
Trade Setup (Confidence 8/10):
- Entry: Short at current price ($0.33146).
- Targets:
- T1: $0.32500.
- T2: $0.31500.
- Stop Loss: $0.34500 (above key resistance).
- Risk Score: 7/10 (moderate risk, but strong setup).
Market Maker Intent:
- Distribution Phase: Visible at premium zone ($0.34000-$0.34500).
- Bearish Confirmation: Watch for breakdown below $0.32500 to confirm further downside.
Recommendation:
- Short positions favorable at current price ($0.33146).
- Wait for breakdown confirmation below $0.32500 before adding shorts.
- Maintain tight stops above $0.34500.
- Confidence Level: 8/10 for bearish continuation.
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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.