DEGOUSDT - SHORT BIAS AMID WEAK CRYPTO MARKET CONDITIONS

13 thg 3

Symbol - DEGOUSDT

CMP - 1.970

DEGOUSDT attempted to break its prevailing trend but encountered significant resistance and was further impacted by a weak cryptocurrency market. The downward movement may persist.

Following the breakout from the descending channel's resistance, a bullish momentum of 45% was established. However, the price faced strong resistance between 2.110 and 2.180, resulting in the formation of a trading range. Sellers are determined to maintain control over this zone and exert pressure. After a prolonged battle for this level, a false breakout of resistance occurred, leading to liquidation when the 2.000 support level was breached. Buyers are now in a state of panic. Should the price remain below the 2.110 - 2.180 range, a further decline in the short to medium term is likely.

Resistance Levels: 2.000, 2.180, 2.274
Support Levels: 1.750, 1.584, 1.359

The overall market remains weak, with altcoins reacting strongly to Bitcoin's short-term fluctuations. This behavior suggests that the market is accumulating liquidity in anticipation of a further decline. Bitcoin has yet to reach its key target, and the absence of a bullish catalyst continue to place downward pressure on altcoins.

20 thg 3

Giao dịch đang hoạt động

Testing 2.000 resistance, Short position active.

26 thg 3

Ghi chú

CMP 1.880

Holding short position with cost SL.

30 thg 3

Đóng lệnh: đạt mục tiêu

First target 1.752 reached.

-12% fall from my short level.

3 thg 4

Ghi chú

CMP 1.500
Both targets reached.

-25% fall from my short level.