DOGE is currently forming a symmetrical triangle pattern on the 15-minute timeframe, indicating compression and a potential breakout soon. Market structure shows clear signs of bearish momentum.
๐น Smart Money Insights:
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Bearish CHoCH indicates a market structure shift to the downside.
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Break of Structure (BoS) confirms bearish continuation.
๐ Price is respecting the descending trendline and creating lower highs.
๐ซ Two major Bearish Order Blocks identified:
OB #1: 0.22651 โ 0.22804 โ
OB #2: 0.23155 โ 0.23576 โ (farther, may act as mitigation zone if price breaks above the first)
๐น Current Setup:
Price is approaching the first bearish OB, aligning with the descending trendline and EMAs, making it a strong confluence zone for a potential reversal.
๐ Trade Setup:
Entry: 0.22652
Stop Loss: 0.22815
Take Profit: 0.21757
Risk-to-Reward Ratio (RRR): ~5.4R+
๐ง Idea: If price taps into the OB and rejects with bearish confirmation, this setup could offer a clean short opportunity with high RRR. A break below the triangle support could further accelerate downside movement.
