$DOGE /USDT – Short position activated in the rejection zone 🧨📉
Position Size: $7,433.40
Entry Price: $0.19299
Dogecoin faced significant resistance clustering near the $0.19500 area, leading to a potential downward reversal.
The asset showed clear signs of exhaustion at the top, with declining bullish momentum and increasing upper supply.
🔽 Trading Hypothesis – Overview of the short setup:
• Entry Executed: $0.19299
• Profit Targets:
• 🎯 TP1: $0.1840 – Initial liquidity pocket
• 🎯 TP2: $0.1780 – Re-test of the demand area
• 🎯 TP3: $0.1700 – Macro-level support
• Stop Loss: $0.1975 – Above the daily high
📊 Technical Compatibility:
Price Structure: Formation of multiple lower highs on 1-hour and 4-hour intervals, indicating distribution.
Volume Profile: Declining buy volume amid resistance pressure, indicating a potential fading of bullish control.
Momentum Indicators: RSI divergence + Weak MACD chart—both align with a bearish trend.
Strategic Note:
This center benefits from the concept of rebalancing and resistance-based pullbacks.
If $DOGE fails to reclaim the $0.1950 area with large volume and continuation, sellers are likely to regain control, leading to a cascade towards lower support areas.
✅ Summary:
The downward trend has been confirmed at resistance.
A risk-managed short position with a tight stop loss and staggered profit targets.
Watch for confirmation of a breakdown with large volume.
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