DOGE has seen a strong bearish correction after the much awaited appearance of Elon at SNL . Typical buy the rumor & sell the news.
DOGE appears to have found support at the support line of the channel, which is the same area as the previous sell-off low and the March highs. The fact that this reversal is placed at a double support area could potentially make this reversal stronger than the previous.
Be aware that this bullish reversal is highly correlated to the performance of BTC . If BTC were to fall, it takes down the whole market. Wait for proper confirmation of DOGE before going long.
Happy trading!
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