$DOGE - SHORT Setup
Entry: 0.1298 – 0.1305 (On rejection from this supply zone)
Target 1:0.1270
Target 2:0.1250
Stop Loss:0.1312 (Above the 24h high)
My View:
DOGE is trading within a clear bearish structure on higher timeframes,with significant declines over the past 90 days (-41.86%) and 1 year (-61.47%). The price is currently retracing into a defined resistance area. This zone is capped by the 24h high (0.13030) and aligns with a prior support level that has turned into resistance. The order book shows a significant Ask wall beginning immediately at the current price (0.12912), indicating strong selling pressure overhead. Price action shows a clear breakdown from previous consolidation, and the current bounce appears weak and corrective. The plan is to enter a short position on a confirmed rejection from the defined resistance area, anticipating a continuation of the downtrend towards the 24h low and potentially lower support levels.
Bias: Bearish below 0.1305. A decisive break and hold above 0.1312 would challenge the immediate bearish structure.
Disclaimer:My plan. Not advice. Trade your own risk.
