DOGE/USDT | Falling Wedge ⇒ Bullish Reversal
If you recall my April 3 prediction to go long on DOGE/USDT at 0.13210, the pair bounced precisely at that level, surged 48%, and reached its second target on the daily timeframe.
We are now reassessing our setups to position for a second leg up.
📊 Market Structure
Pattern: Price has been compressing into a falling wedge, marked by lower highs and lower lows converging (blue lines).
🔹 Demand Order Block
Zone: 0.160 – 0.164 USDT (shaded blue)
0.16360 USDT – trend-line support test
0.16360 USDT – prior swing base
⚔️ Long Entry Strategies
Enter on a bounce off 0.16360 USDT with a bullish rejection/ retest.
🛑 Stop Loss
A close below the Level: 0.15580 USDT
Placed just below the demand block to absorb noise while capping downside.
🎯 Profit Targets
Target Price (USDT)
TP1 0.17123
TP2 0.18077
TP3 0.19296
🔧 Trade Management
Scale Out: Take partial profits at each TP to lock in gains.
Trail Stop: Move to breakeven after TP1 is reached.
Invalidation: A close below 0.15580 USDT negates the setup—exit and reassess.
If you recall my April 3 prediction to go long on DOGE/USDT at 0.13210, the pair bounced precisely at that level, surged 48%, and reached its second target on the daily timeframe.
We are now reassessing our setups to position for a second leg up.
📊 Market Structure
Pattern: Price has been compressing into a falling wedge, marked by lower highs and lower lows converging (blue lines).
🔹 Demand Order Block
Zone: 0.160 – 0.164 USDT (shaded blue)
0.16360 USDT – trend-line support test
0.16360 USDT – prior swing base
⚔️ Long Entry Strategies
Enter on a bounce off 0.16360 USDT with a bullish rejection/ retest.
🛑 Stop Loss
A close below the Level: 0.15580 USDT
Placed just below the demand block to absorb noise while capping downside.
🎯 Profit Targets
Target Price (USDT)
TP1 0.17123
TP2 0.18077
TP3 0.19296
🔧 Trade Management
Scale Out: Take partial profits at each TP to lock in gains.
Trail Stop: Move to breakeven after TP1 is reached.
Invalidation: A close below 0.15580 USDT negates the setup—exit and reassess.
Trade active
TP2 reached
Telegram: t.me/Crypto_Sheykh
Related publications
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.
Telegram: t.me/Crypto_Sheykh
Related publications
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.