$DOGE /USDT Potential Short Setup with Analysis ๐ป
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DOGE
0.15633
+0.31%
โก๏ธ Entry Zone: $0.1568 - $0.1570 ๐ด (on confirmation of downward momentum)
Analysis for Entry:
Recent Price Action: The chart shows a recent upward push that seems to be stalling around the $0.1570 level. The appearance of some red candles suggests potential selling pressure emerging.
Resistance Area: The current price is near the upper end of the recent consolidation range. Failure to break decisively above this area could indicate resistance.
Lack of Strong Bullish Momentum: While the 24h change is slightly positive, the immediate price action on the 15-minute chart doesn't show strong, sustained bullish momentum.
๐ฏ Targets:
Target 1: $0.1560 โฌ๏ธ โ Minor support based on recent price action.
Target 2: $0.1550 โฌ โ More significant support zone visible on the chart.
Target 3: $0.1540 ๐ โ Deeper target if bearish pressure increases.
๐ Stop Loss: $0.1575 โฌ๏ธ
Analysis for Stop Loss:
Protecting Against Breakout: Stop loss is placed slightly above the $0.1570 resistance to guard against an unexpected breakout.
Risk Management: Helps limit losses if the bearish thesis fails.
TRADE HERE ๐๐ป $DOGE
