DOGE/USDT 1H: Bullish Reversal in Play – Eyeing $0.31!?
2025-02-04
Category: None

DOGE/USDT 1H Chart Analysis
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 Current Market Structure: 

Bullish reversal confirmed after testing discount zone at $0.21.
Price currently at $0.286, showing strong momentum from equilibrium zone.
RSI at 60.09, indicating healthy momentum without overbought conditions.

 Smart Money Concepts: 
Accumulation phase completed at discount zone.
Clear bullish order block formed at $0.26.
No significant bearish divergences present.
Market Makers likely targeting premium zone for distribution.

 Key Levels: 
Support: $0.275 (recent consolidation zone).
Resistance: $0.31 (previous structure high).
Premium Zone: $0.33-$0.34.

 Trade Setup (Confidence Level: 8/10): 
Entry: $0.285-$0.288 range.
Targets:
T1: $0.31 (previous consolidation high).
T2: $0.33 (premium zone).
Stop Loss: Below $0.272 (recent structural low).
Risk Score: 7/10 - Favorable risk/reward setup with a clear invalidation level.
 
Market Maker Intent: 
Strong accumulation in discount zone suggests upside continuation.
Expect price to target premium zones before possible redistribution.
Monitor volume on breakout of $0.31 for confirmation of trend continuation.

 Recommendation: 
Long positions favorable within $0.285-$0.288.
Maintain tight stop-loss to mitigate risk.
Watch for price action near premium zones for potential distribution.
Confidence Level: 8/10 for bullish continuation.
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