$DOGE - SHORT Setup
Entry: 0.1280 – 0.1288 (On rejection from this resistance zone)
Target 1:0.1260
Target 2:0.1250
Stop Loss:0.1295 (Above the 24h high)
My View:
DOGE is trading within a clear bearish structure on higher timeframes,with significant losses over the past 90 days (-43.07%) and 1 year (-60.47%). The price is currently in a weak retracement, approaching a defined supply area. This zone is capped by the 24h high (0.12933) and aligns with a prior breakdown level. The order book shows a dominant Ask volume (67.96%), indicating substantial selling pressure is stacked just above the current price. Price action shows a clear breakdown from previous consolidation, and the current bounce lacks momentum, characteristic of a corrective move within a larger bear trend. The plan is to enter a short position on a confirmed rejection from the defined resistance area, anticipating a continuation of the primary downtrend towards the 24h low and potentially lower support levels.
Bias: Bearish below 0.1288. A break and hold above 0.1295 would challenge the immediate bearish structure.
Disclaimer:My plan. Not advice. Trade your own risk.
