BEARISH on #DOGEUSDC Perp
Key Reasons:
1. Weak Momentum & Oversold Trap:
- RSI(6) at 27.36 (deeply oversold), yet price fails to rebound significantly.
- MACD: -0.00035 (bearish momentum persists despite oversold signals).
- Williams %R: -87.82 (oversold but no bullish reversal confirmation).
2. Selling Pressure Dominates:
- OBV: -3.33B (massive distribution/selling volume).
- Price below Middle Bollinger Band (0.20132), signaling downtrend.
3. Long Squeeze Risk:
- 74% of accounts are LONG (overcrowded bullish sentiment).
- Funding Rate: +0.19% (longs pay shorts), increasing liquidation risk if price drops.
4. Volume & Open Interest:
- Declining OI Net Value (13.9M) hints at weakening bullish conviction.
- 24h Low (0.18565) tested recently; resistance at 0.20132 (MA20) holds firm.
#### Target:
- Downside Target: Lower Bollinger Band (0.17639).
### Action:
Avoid longs until RSI sustains >50 + MACD flip. Short opportunities if price rejects 0.19554 (24h high).
