$DEGO / USDT FROM DUMP TO DEAD CAT BOUNCE?
$DEGO just printed a brutal collapse from the $2.60+ zone to a jaw-dropping low of $1.18 wiping out over 50% in one violent red candle. But now, it's bouncing back, reclaiming the $1.33 level with a +6.8% move on the day.
Is this a relief rally or a setup for more downside?
Breakdown Summary:
Massive dump from $2.60 to $1.18
Quick recovery now testing $1.34 zone
Short-term bounce looks reactive, not reversal yet
No volume spike or bullish confirmation caution!
Trade Setup (High-Risk Zone)
Short Entry: $1.34 – $1.37 (if rejection confirmed)
TP1: $1.22
TP2: $1.10
SL: $1.42
Unless $DEGO flips above $1.42 with strong momentum, this bounce may fade fast. Watch for bearish continuation or heavy rejection.