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Are DOGE bulls still waiting for a rebound? The 4-hour timeframe has turned red.
$DOGE /USDT - Short SHORT
Trading plan:
Entry: 0.0716 – 0.0718
SL: 0.0730
TP1: 0.0707
TP2: 0.0701
TP3: 0.0691
Why focus on this structure?
- The RSI on the 15-minute chart is only 37.41, and momentum is extremely weak—any rebound is a short opportunity.
- The daily trend is clearly bearish. The current 0.0717 is in the 4-hour EMA resistance zone, making LONG extremely risky.
- Bearish targets: TP1 0.0707, TP2 0.0701. The stop loss is only 0.0730, and the risk-reward is attractive.
Discussion:
Will this drop directly hit TP2, or will it first lure longs before a waterfall?