$DOGE Bear Trap Could Trigger a 20% Rebound — Here’s the Key Setup
Dogecoin appears to be recovering from a Bear Trap formed below the important $0.080 trading level and the Support Zone.
When a trap is confirmed, price often reacts aggressively in the opposite direction — and the current structure is beginning to show signs of that shift.
From an Elliott Wave perspective, the weekly corrective Zigzag structure appears to be complete, potentially opening the way for a short-term impulsive bullish wave.
Positive divergence is also clearly visible between consecutive lows, adding further confirmation that bullish momentum may be developing.
As long as the current support structure remains intact, I expect DOGE to potentially gain at least 20%, targeting the important $0.0925 trading level and the Cumulative Short Liquidation Leverage at $0.0937–$0.102.
A confirmed breakout above this liquidity zone could open the door for a much stronger bullish continuation.
Was the move below $0.080 the final bear trap before DOGE’s next rally?
#Dogecoin