DOGE / USDTShort
DOGE/USDT 1H: Bears Eye $0.348 After Rejection at $0.37
DOGE/USDT 1H Chart Analysis (SMC Principles)
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Current Price: $0.35948
Market Structure:
Key Levels:
Technical Indicators:
Trade Setup (Confidence Level: 7/10):
Smart Money Analysis:
Recommendation:
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Current Price: $0.35948
Market Structure:
- Bearish momentum with rejection from $0.37 resistance.
- Lower highs forming as price tests the equilibrium zone.
Key Levels:
- Resistance: $0.37 (premium zone).
- Support: $0.348 (discount zone).
Technical Indicators:
- RSI: 54.87, showing hidden bearish divergence.
Trade Setup (Confidence Level: 7/10):
- Entry Zone: $0.35948 (current price).
- Targets:
- T1: $0.355
- T2: $0.348
- Stop Loss: Above $0.362 (recent swing high).
- Risk Score: 7/10 (favorable R:R).
Smart Money Analysis:
- Institutional selling pressure visible at $0.37, suggesting distribution.
- Accumulation phase likely at $0.348, with market makers targeting liquidity below.
Recommendation:
- Short position recommended with clear invalidation above $0.362.
- For optimal entry, wait for a retest of $0.36 and monitor volume for confirmation.
- Confidence Level: 7/10 for downside 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.