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🚨 DOGS/USDT Trade Analysis – Potential Short Opportunity 🚨
📉 Market Structure Breakdown 📉
We are currently seeing a textbook Lower High (LH) and Lower Low (LL) formation on the 4-hour chart, signaling a strong bearish trend. Price action has recently approached a key resistance zone around 0.0010865 - 0.0012272.
🔍 If the price fails to break above this zone and maintains the LH structure, we may see a potential sharp decline. This presents a great shorting opportunity for those looking to capitalize on this bearish momentum.
Key Levels to Watch:
- Resistance Zone: 0.0010865 - 0.0012272
- Major Resistance: 0.0013890 (blue line)
- Support: 0.0008399 (green line)
- Current Price: 0.0010839
🎯 Trade Idea:
- Short entry around 0.0010865 - 0.0012272 if price shows rejection.
- Take Profit: 0.0008399 (major support).
- Stop Loss: Above 0.0012272.
💡 Bearish Scenario:
- A rejection from the resistance zone could result in a strong drop towards the support at 0.0008399.
💼 Risk Management:
- Ensure proper stop-loss placement just above 0.0012272 to protect against false breakouts.
- Watch for a decisive breakdown of the Lower Low (LL) to confirm bearish continuation.
🚨 Stay vigilant and trade with discipline! The market can be unpredictable, so always manage risk appropriately.
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