$DOGE /USDT Showing Bearish Momentum! Potential Short Setup ๐
Entry Zone (For Bearish Setup):
๐ด $0.1592 - $0.1598 ๐ด (Look for short entry opportunities near this resistance zone as price struggles to move higher.)
Profit Targets:
Target 1: ๐ $0.1585 (Expect initial support around this recent low.)
Target 2: ๐ฏ $0.1575 (Breaking below $0.1585 could lead to further downside, testing the 24-hour low.)
Target 3: ๐ฏ $0.1570 or lower (A continuation of bearish momentum could bring the price down further towards the 24-hour low or below.)
Stop Loss:
๐ฅ Above $0.1605 ๐ฅ (Place stop loss just above recent swing high to manage risk in case of a bullish reversal.)
Why Bearish?
Recent Downtrend: The chart shows consistent lower highs and lower lows, signaling continued bearish pressure.
Resistance Zone: The $0.1600 area is acting as a short-term resistance level, making this a prime spot for potential short entries.
Volume Confirmation: Watch for increasing selling volume to support the bearish bias.
TRADE HERE ๐๐ป $DOGE