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DOTUSDT: Ready for a Big Breakout or Sudden Drop?Yello Paradisers! Is DOTUSDT about to make a breakout move that will catch traders by surprise? Let’s break down what the charts are saying right now 👇 💎DOTUSDT is shaping up an intriguing pattern with an inducement and the formation of a descending triangle, which suggests a potential bullish breakout on the horizon. 💎If DOTUSDT breaks out and closes a strong candle above the resistance zone and trendline, this would signal a higher probability of an upward move. This is the confirmation many are waiting for before taking action. 💎Should DOTUSDT pull back, watch for a bounce from the support zone. This could set up a potential double bottom pattern. To strengthen your conviction, look for a bullish I-CHoCH (Internal Change of Character) on the lower timeframes as further confirmation. 💎If the price breaks down and candle closes below the support zone, it would invalidate the bullish outlook. In this case, the best approach would be to remain patient and wait for more reliable price action to develop before making any moves. 🎖Stay vigilant, Paradisers. Discipline and patience in analyzing confirmations are what set apart profitable traders from the rest. Always wait for the highest probability setups to increase your success rate in this volatile market. MyCryptoParadise iFeel the success🌴
Long
by MyCryptoParadise_Nathan
After absorbing liquidity, DOTUSDT has formed a W pattern🚀💎 Paradisers, #DOT is showing a Break of Structure (BOS) towards a bullish market structure and has formed a 'W' pattern after absorbing liquidity, which increases the likelihood of a bullish move. 💎 This level is also supported by the Fibonacci 61.80% level, which further enhances the bullish probability. However, for confirmation, we need the price to break above the resistance level, after which we can expect a bullish move up to the next resistance levels. 💎 If the price breaks down below the bullish OB level, it will invalidate the bullish structure. In that case, it would be better to avoid it and wait for better price action to form.
by MyCryptoParadise_Nathan
DOT Sparks Potential Bullish Reversal with Inverse H & S💎 #DOT is currently demonstrating a bullish market structure, notably forming an inverse head and shoulders pattern. This pattern typically signifies a potential bullish reversal. 💎If #DOTUSDT manages to break above the high , it would confirm the breakout and could lead to further upward movement, with potential targets being the next resistance levels. 💎In the event of a pullback, traders may anticipate a bounce from the bullish order block (OB) level, providing support to the bullish bias. 💎However, if the price breaks below the bullish OB level, it would invalidate the pattern and increase the probability of a bearish trend. In such a scenario, it is advisable to exercise caution and wait for clearer price action signals before making trading decisions.
by MyCryptoParadise_Nathan
DOT: Bullish Momentum Supported by Breakouts and Patterns💎 DOT has found support within the support zone marked by the 0.618 Fibonacci level and has broken out of a descending channel pattern, forming a W pattern supported by the 200 EMA. Additionally, the price is displaying a Break Of Structure(BOS), further increasing the likelihood of bullish momentum. 💎If the price manages to break above the first resistance area, we can anticipate further bullish movement towards subsequent resistance levels. 💎In the event of a pullback, we may see a bounce from the bullish order block (OB) levels. 💎However, if the price declines below the support level, it could signal a bearish movement for DOT. Nonetheless, given the current bullish sentiment in the overall market, it would be prudent to align with the prevailing trend.
by MyCryptoParadise_Nathan
DOT/USDT's Inverse Cup and Handle: Bearish Hints or Reversal ?💎 Paradisers, let's zoom into DOT/USDT on the daily chart. It's sketching out an inverse cup and handle formation. Interestingly, the handle's peak faced resistance at the Fibonacci's 0.5 level, bolstering the bearish narrative. The cup's top showcases a Lower High (LH), while the handle's peak indicates a Lower Low (LL). 💎 If DOT/USDT breaches the demand threshold of 4.100, we're forecasting a descent towards the subsequent demand zones at 3.383 and potentially even 2.934. However, keep your radars on! If the price surges past the handle's peak at 5.974, it would invalidate our pattern. Stay sharp and navigate wisely, ParadiseSquad!
Short
by MyCryptoParadise_Nathan