DOTUSDT.P trade ideas
Dot long - double bottom on breakoutDot coin is creating a double bottom pattern which is about to breakout on upside.It is reteting on a lower level now.It could retest from the neckline another time and then will make a long move.RSI is also making a bull divergence.After retesting a long trade can be initiated of 1:2 R:R .Entry and exit level are as shown as the image.Check it out.
PolkaDOT ($DOT) shall bounce from here!Looking at the $BTC price movement, it can be seen that Bitcoin will take a small correction, so $DOT will follow. And then it will bounce back from the given range. Daily candle patterns have crossed 21 and 50 SMA, and RSI 14 looks bullish. Wait for the US CPI.
Dot update 4 hr TF with supp & resisDOT is now testing the support line of the downtrend channel. A bounce is expected from this support line. If DOT breaks below the $13.74 support area then we see a dump towards the $10.29 major support level. The local resistance is $18.27 area and the major resistance is near $20 area.
Buy Polkadot, Long DOTUSDTPolkadot has started consolidating, indicating the change in the trend (Downtrend).
DOTUSDT is respecting the trendline(RED). Also started to make the W reversal pattern.
RSI is in an uptrend and 50MA also supporting the candles.
Keep the trend line(RED) as the stop loss, For the 1st target of 23.25 DOTUSDT