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DOGE/USDTPERP Potential Upward Movement

DOGE/USDTPERP Long-Term Trend: Bullish

Key Resistance Levels: 0.19544, 0.20476, 0.21165

Key Support Levels: 0.18047, 0.17035, 0.15962

Daily Chart:

The price on the higher time frame failed to break a strong key support around the 0.17035 USDT mark which led to a long tail to the downside in the yesterday’s bar. This led to the formation of a double bottom and a reversal to the upside.

DOGE/USDTPERP Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the pair succeeded to break the bearish channel to the upside after posting an inverse head and shoulders. The market has moved higher. We expect a lower correction to the highlighted zone before a new move upward toward the target profit.

Signal Idea:

Buy Limit Order @ 0.18097

TP 1 @ 0.19477

TP 2 @ 0.19544

Stop Loss @ 0.17632

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

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