đąTrading signal for DOGS/USDT
đ Signal Type: Bullish Reversal
đ Timeframe: 1-hour chart (short-term)
đ Price: $0.000773 (current price)
đ Targets:
1. First Target: $0.000818
2. Second Target: $0.000849
3. Third Target: $0.000946
đ Analysis:
âą The price is breaking out of a downward channel, signaling a potential bullish reversal from the support area.
âą The RSI is showing a bullish divergence (41.51), indicating oversold conditions, which strengthens the potential for an upward move.
âą Look for a break and close above the current resistance around $0.000773 for confirmation of the uptrend.
đŻ Key Levels:
âą Support: $0.000740 (Support area at the bottom of the channel)
âą Resistance Levels:
âą $0.000818 (first target)
âą $0.000849 (second target)
âą $0.000946 (third target)
â ïž Risk Management:
âą Consider placing stop-loss below the support area around $0.000740 to minimize downside risk.
đ Potential Scenario:
âą If the price confirms above $0.000818, we can see the next leg up toward $0.000849 and potentially $0.000946, following the bullish trend reversal pattern.
This setup shows strong potential for a short-term reversal trade with increasing buying pressure. Watch for confirmation of the breakout and manage risk accordingly.
Disclaimer: DYOR and NFA.
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