Hello friends. Lets take a long on Doge. Here is the reasoning:

The market has failed to price in the possibility that Elon Muck will decide to replace Twitter’s Birb with a Doggy. I think there is at least a 1/3rd chance this or a similar event will occur, and it will be glorious if it does.

In the past hour, we have had more long liquidations on Doge than in any single hour for several months. This tends to lead to a reversal.

The hyblock capital liquidation predictor shows us that there is a *massive* amount of shorts waiting to be liquidated at higher prices, which can cause a big chain reaction to send prices parabolic.

Volume and open interest both fell into the downtrend which shows that it is weak and ready to reverse soon.

The volume profile shows that price bottomed out at a good support level and has relatively low resistance until reaching $0.14.

This trade has a good risk reward and a positive expected value based on these reasons. Let’s see. Thanks for playing. Remember that trading reversals is risky but also can give a great return if you hit a home run. We took a long earlier on Doggy coin and it already stopped out, which just shows the risk of trying to catch this movement.