BEARISH 📉 : Analyst warns Dogecoin could drop to $0.089 soon
Analyst flags a DOGE “trap.” Sees a quick drop toward ~$0.089, maybe ~$0.08, despite today’s $0.10 reclaim.
Crypto Paradise warns of a crash in Dogecoin. He outlines a bearish setup in a TradingView post and a likely “distribution” phase highlighted in recent coverage.
He says a VSA pattern formed. Buying climax. Then a climactic action bar. Institutions sell into retail spikes, he adds, echoing prior reports.
Context matters. Bitcoin briefly broke $79,000, lifting DOGE back to $0.10, per market recap. The analyst still sees downside pressure.
Key levels and signals:
- Supply leads after an upper trigger sweep and a break below the lower trigger, per his chart.
- Descending resistance holds. Structure stays weak, as noted in trendline analysis.
- Momentum turns lower within a 1h order block and fair value gap zone.
- First magnet support sits near $0.09290 if selling persists.
- Main target near $0.08917, possibly ~$0.08, from the setup.
- Invalidation needs a strong break above $0.10338, per his notes on price action.
Further backdrop on the “trap” warning appears in this analysis summary.