DOGS/USDT: Bearish Continuation or Relief Bounce Ahead?

24 dic 2024

hello guys!
let's analyze Dogs!

Liquidity Sweep ("Hunted"):
A recent liquidity grab above the $0.0009000 resistance level indicates that smart money may have trapped late buyers before the sharp sell-off.
This bearish move aligns with the concept of liquidity hunting, where key levels are taken out before price reverses.

Bearish Momentum:
DOGS/USDT has broken below the mid-range support zone ($0.0006800-$0.0007000), suggesting strong bearish pressure.
The price is currently retesting this zone as resistance, a critical area for determining the next move.

Key Levels to Watch:
Immediate Resistance:
The previous support zone at $0.0006800-$0.0007000 is now acting as resistance. A rejection here could confirm a continuation of the downtrend.

Support Levels:
The critical support level lies at $0.0004500-$0.0004700 (purple zone). A break below this could open the door for a deeper correction toward $0.0003500.

Possible Scenarios:
Bearish Continuation:
If the price fails to reclaim $0.0006800, expect a drop to the major support at $0.0004500. A breakdown below this zone could trigger panic selling.

Short Position:
Entry: Near $0.0006800-$0.0007000.
Targets: $0.0004500, followed by $0.0003500.
Stop Loss: Above $0.0007300.

Long Position (Aggressive):
Entry: Near the purple support zone ($0.0004500).
Targets: $0.0006800, followed by $0.0009000.
Stop Loss: Below $0.0004300.