DOGE - retraced at the confluent support zone, high potential pullback buy position:
- SMA50 Dynamic support—often attracts mean-reversion buys.
- cup & handle support retest Price retested prior breakout zone—flips resistance to support.
- key 38% Fib “sweet spot” pullback level after corrective moves.
- Previous Change of Character marks shift from bearish to bullish structure—support confluence.
Potential Entry & Risk Management
Entry Zone
- Aggressive: immediate handle breakout support
- Conservative: Wait for liquidity pattern and re-bounce confirmation candle above SMA50
Stop-Loss
-Below Cup Handle low -10% larger position prior swing high RR:2.5/1
-Suggested SL: previous low -0.17 USDT - 5% below entry
Initial Targets
-Key resistance 61.8% Fib retracement — 0.217 USD
-100% Prior swing high — 0.26 USD
-162% Next extended target - 0.35 USD
Trade Rationale
-Mean-reversion into SMA50 and Fib 38.2% zone aligns multiple buyers.
-Pattern support: Cup & handle retest confirms breakout strength.
-Structure flip: CoCh zone indicates bullish regime shift.
Watch-Outs
-Rejection below 0.188 USD erodes support cluster—invalidates setup.
-Rising volume on bounce is crucial—low-volume lifts often fail.
-Beware broader market sell-offs impacting altcoins.
Next Steps:
-Monitor 4-hour candlestick close inside entry zone.
-Check volume spike on reversal candle.
-Adjust risk dynamically if price gravitates toward upper channel resistance.
Always trade with affordable risk and respect your stop..
- SMA50 Dynamic support—often attracts mean-reversion buys.
- cup & handle support retest Price retested prior breakout zone—flips resistance to support.
- key 38% Fib “sweet spot” pullback level after corrective moves.
- Previous Change of Character marks shift from bearish to bullish structure—support confluence.
Potential Entry & Risk Management
Entry Zone
- Aggressive: immediate handle breakout support
- Conservative: Wait for liquidity pattern and re-bounce confirmation candle above SMA50
Stop-Loss
-Below Cup Handle low -10% larger position prior swing high RR:2.5/1
-Suggested SL: previous low -0.17 USDT - 5% below entry
Initial Targets
-Key resistance 61.8% Fib retracement — 0.217 USD
-100% Prior swing high — 0.26 USD
-162% Next extended target - 0.35 USD
Trade Rationale
-Mean-reversion into SMA50 and Fib 38.2% zone aligns multiple buyers.
-Pattern support: Cup & handle retest confirms breakout strength.
-Structure flip: CoCh zone indicates bullish regime shift.
Watch-Outs
-Rejection below 0.188 USD erodes support cluster—invalidates setup.
-Rising volume on bounce is crucial—low-volume lifts often fail.
-Beware broader market sell-offs impacting altcoins.
Next Steps:
-Monitor 4-hour candlestick close inside entry zone.
-Check volume spike on reversal candle.
-Adjust risk dynamically if price gravitates toward upper channel resistance.
Always trade with affordable risk and respect your stop..
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.