"DOGE/USDT 1H: Bearish Consolidation – Short Setup Targeting
DOGE/USDT 1H: Bearish Consolidation – Short Setup Targeting $0.24000?
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Current Market Structure:
Market Maker Activity:
Technical Indicators:
Trade Setup (Confidence 8/10):
Risk Score:
Recommendation:
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Current Market Structure:
- Price at $0.25157 in a bearish trend with clear lower highs and lower lows. Currently consolidating in a tight range.
Market Maker Activity:
- Distribution pattern is evident with multiple bearish blocks. Volume profile suggests accumulation at lower levels.
Technical Indicators:
- No clear divergences present, supporting the prevailing downtrend.
Trade Setup (Confidence 8/10):
- Entry: Look for a short entry in the $0.25300-$0.25500 range upon retest.
- Targets:
- T1: $0.24500
- T2: $0.24000
- Stop Loss: Place above resistance at $0.26100.
Risk Score:
- 7/10 – Medium-high risk with a favorable risk-to-reward ratio if key levels hold.
Recommendation:
- Short positions are recommended once a retest of $0.25500 is confirmed, as market makers appear to be distributing at higher levels, suggesting continued downside.
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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.