$DOGE coin
SHORT
Price: .17918
(Enter on entry price)
10x leverage isolated
(Note: risk reward ratio didn’t match ) so ignore the trade)
I can see an ascending triangle bullish pattern has broken down to the downside. It has already completed a successful retest. However, Doge might move slightly higher to grab liquidity before opening a short position becomes safer.
On the 24-hour time frame, there is a lot of liquidity present on the upside, but since Doge has already broken down, I expect it to start a downtrend soon.
There are two Money Flow Index (MFI) indicators I am watching. It looks like the MFI will pump slightly and then dump again from the blue trendline resistance. Overall, I am maintaining a bearish outlook on the market.
Target:
1) .17650
2).17500
3).17300
4).17200
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