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.