Yello Paradisers, are you thinking of shorting DOGE right now? Be careful—this setup might look obvious, but it could also be the start of a classic trap. Let’s dig into what the charts are really telling us.
💎DOGEUSDT is currently reacting from a strong 4H resistance zone, which already gives us an early warning of potential rejection. Zooming into the 1H timeframe, price has broken down Rising wedge with bearish divergence. This isn’t just a random move; it's supported by confluence, especially with the 200 EMA acting as dynamic resistance on the 1H. That kind of layered rejection significantly increases the probability of a further bearish continuation.
💎For aggressive traders, there’s a potential to enter at the current price, but that comes with higher risk. For those who prefer a safer approach, the better play is to wait for a proper pullback and retest of the resistance zone. If the price returns to that level and forms a bearish candlestick pattern, it could provide a much cleaner and higher-probability short setup—along with a bigger reward-to-risk ratio.
💎However, if DOGE breaks out and closes a candle above the resistance zone, this would invalidate the entire bearish scenario. In that case, we’ll need to stay patient and wait for more reliable price action before making any decisions.
🎖Strive for consistency, not quick profits. Treat the market as a businessman, not as a gambler.
MyCryptoParadise
iFeel the success🌴
💎DOGEUSDT is currently reacting from a strong 4H resistance zone, which already gives us an early warning of potential rejection. Zooming into the 1H timeframe, price has broken down Rising wedge with bearish divergence. This isn’t just a random move; it's supported by confluence, especially with the 200 EMA acting as dynamic resistance on the 1H. That kind of layered rejection significantly increases the probability of a further bearish continuation.
💎For aggressive traders, there’s a potential to enter at the current price, but that comes with higher risk. For those who prefer a safer approach, the better play is to wait for a proper pullback and retest of the resistance zone. If the price returns to that level and forms a bearish candlestick pattern, it could provide a much cleaner and higher-probability short setup—along with a bigger reward-to-risk ratio.
💎However, if DOGE breaks out and closes a candle above the resistance zone, this would invalidate the entire bearish scenario. In that case, we’ll need to stay patient and wait for more reliable price action before making any decisions.
🎖Strive for consistency, not quick profits. Treat the market as a businessman, not as a gambler.
MyCryptoParadise
iFeel the success🌴
Want to trade like a PRO without the 15+ year learning curve?
🫳Steal the edge - follow seasoned team of traders at mycryptoparadise.com (FREE)
✅🎖️Or go full throttle with PRO strategy + killer entry/exit signals - t.me/MCPsupportbot
🫳Steal the edge - follow seasoned team of traders at mycryptoparadise.com (FREE)
✅🎖️Or go full throttle with PRO strategy + killer entry/exit signals - t.me/MCPsupportbot
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Want to trade like a PRO without the 15+ year learning curve?
🫳Steal the edge - follow seasoned team of traders at mycryptoparadise.com (FREE)
✅🎖️Or go full throttle with PRO strategy + killer entry/exit signals - t.me/MCPsupportbot
🫳Steal the edge - follow seasoned team of traders at mycryptoparadise.com (FREE)
✅🎖️Or go full throttle with PRO strategy + killer entry/exit signals - t.me/MCPsupportbot
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.