DOGE / USDTLong
DOGE/USDT 1H: Bulls Eyeing $0.42!!
DOGE/USDT 1H Chart Analysis (SMC Principles)
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Current Price: $0.37924
Key Points:
Trade Setup:
Market Maker Analysis:
Recommendation:
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Current Price: $0.37924
Key Points:
- Strong bullish momentum after breaking the equilibrium zone.
- RSI at 59 indicates strength with room to move higher.
- Break above the previous fair value gap (FVG) at $0.365.
- Premium zones identified at $0.40-$0.42.
Trade Setup:
- Entry Zone: $0.378-$0.380
- Targets:
- T1: $0.40 (premium zone).
- T2: $0.42 (major resistance).
- Stop Loss: Below $0.365 (recent FVG).
Market Maker Analysis:
- Accumulation phase completed at $0.34-$0.35.
- Likely distribution zone above $0.42.
- No significant divergences present, supporting the bullish case.
- Risk Score: 7/10 (favorable risk-to-reward setup).
Recommendation:
- Long positions favored with a confidence level of 8/10.
- Monitor for sustained volume and breakout confirmations above $0.40.
- Conservative position sizing advised due to broader market conditions.
- Confidence Level: 8/10 for bullish continuation.
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.