It’s up a lot today, and $DOOD is now at 0.0023. But I’m going to pour some cold water on this: my short-term view is bearish.
Hourly trading volume hit $37.55 million, compared with just $9.02 million at this time on a typical day. That’s 4.16 times the usual volume, yet the hourly candles have closed red one after another, with a 5.16% range. The money is coming in—but it’s coming in to sell. If you miss that and jump in just because it’s up 61% on the day, you’re just providing exit liquidity.
To be clear, I’m only talking about the short term here, not making a call on the whole day. It swung 93.89% in a single day, climbing from 0.001374 to a high of 0.002664. The current price is only at the 69% mark of the 24-hour range—somewhere in the middle. Volume is up from yesterday, which means disagreement is growing; it’s not a one-sided move.
My own plan is simple: short around the current price, with a stop just above the previous high. If it breaks through, I’ll take the loss. Don’t get greedy—first, let’s take our share of this downward move.
Hourly trading volume hit $37.55 million, compared with just $9.02 million at this time on a typical day. That’s 4.16 times the usual volume, yet the hourly candles have closed red one after another, with a 5.16% range. The money is coming in—but it’s coming in to sell. If you miss that and jump in just because it’s up 61% on the day, you’re just providing exit liquidity.
To be clear, I’m only talking about the short term here, not making a call on the whole day. It swung 93.89% in a single day, climbing from 0.001374 to a high of 0.002664. The current price is only at the 69% mark of the 24-hour range—somewhere in the middle. Volume is up from yesterday, which means disagreement is growing; it’s not a one-sided move.
My own plan is simple: short around the current price, with a stop just above the previous high. If it breaks through, I’ll take the loss. Don’t get greedy—first, let’s take our share of this downward move.
