DOGE → Hitting The Bottom and About to Rocket Past $0.10?

Doge pulled back 30% from its recent high just above $0.10, leaving the bulls to wonder if we're continuing to the downside or putting in new highs. Is this the time to enter a long trade?


How do we trade this? 🤔

DOGE → Hitting The Bottom and About to Rocket Past $0.10?

The answer is yes! We have several market indicators that point to a 1:2 Risk/Reward trade right here at this moment. We have three pushes down in our pullback from $0.10, 3 failed attempts to make lower lows in a trading range, and an RSI that is low and above the Moving Average; Bitcoin as a market indicator is showing signs of making another attempt toward the upside as well. We're 10% away from the Support zone with plenty of runway before hitting the previous high at $0.10. These are optimal conditions for a long trade.


💡 Trade Idea 💡

Long Entry: $0.0805
🟥 Stop Loss: $0.0705
✅ Take Profit #1: $0.0905
✅ Take Profit #2: $0.1050
⚖️ Risk/Reward Ratio: 1:2


🔑 Key Takeaways 🔑

1. Three pushes down in the pullback from $0.10
2. Three failed attempts to break a new low in the trading range
3. 10% away from the Support Zone and 34% away from the previous high of $0.10
4. RSI at 43.00 and above the moving average which are ideal conditions for a long
5. Bitcoin showing signs of a move toward the previous high


💰 Trading Tip 💰
Trends typically have 3 pushes in either direction before a trend change begins. Along with other market indicators, creates a situation to look for counter-trend trades because the probability of profit is high enough.


⚠️ Risk Warning! ⚠️
Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk!


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