DODO/USDT Main trend. Descending channel

By SpartaBTC

Updated

Main trend. Time frame 1 week. Logarithm.

Coinmarketcap: DODO

Line chart.

Local trend. Reversal zone.

DODO/USDT Local work. Volume

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Pivot Area. The accumulation channel with a step of about 100% 7.4 months. Pivot zone. The price is near support.

Accumulation 222 days (7.4 months). The price is near the accumulation channel support (0.1023).

Possible reset, if the general market trend will allow. To beat out stops, or if "a big sadness in the cryptocurrency market", the attempt - to fix under support (not necessarily).

Accumulated over this period, more than 7 months, is a very large volume. You can do whatever you want with it with the price. Consequently, it is more rational to work from the average price of a set / reset. Don't be intimidated or greedy.

It is rational to reset those who have traded in the channel, this can be done by:

1) taking the StopLoss out to a large % -20%. In order not to lose a lot of coins, it is done in the "red market days" under the general reset. At other times, it is not rational, because we have to invent tales about "problems with project" and run news for fools in "three lines", and it costs money and not always works.

2) Take out the Stop-Loss and start trading well below the support of the accumulation channel. Fear. Rational only under a general negative market trend, otherwise "non hamsters" will buy out all the coins with which the dump is made and keep the price low.

3) "Hamster dump". We take the price above the accumulation channel, that is more than +100% (redemption was in this range). We need it to be much higher, so that there was a significant profit for those who traded in the channel, so that they were happy with the % of sales. Redemption of their coin volume, correction is fear. Understanding the moment of market reversal (it is important not to make a false start, otherwise it will be expensive) And a sharp reversal. Pumping the stick above the main drop zone.

With high probability the gained volume will be at the reversal of the market (the intermediate pumping of the market to 2025) is not sold at +100 +200 and probably not +300% of the average price of accumulation.

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+35% from the trend reversal to the average price of the 8.8-month horizontal channel. An important local zone for the coin. The important time zone for the stock market and as a consequence for the cryptocurrency market is February 1 (Fed interest rate). I think the result of the decision is clear to everyone. Use this opportunity.

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+180% from the entry zone to the first target impulse to break the trend to the level of 0.2876. Rollback. There is a significant volume of the buyer. Perhaps under the breakout chart some news came out (I was not interested).

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Pumping +250% from the reversal level 0.1023 (123) to the level 0.3612 ("temperature, time, logic") rollback to the average set price 0.1381 (1381) Confirmation and resumption of movement. All this in the area of the set, in order to shake up the price and to force to sell those who were gaining in the channel.

I want to note that the stops were not broken under the set zone of 10.4 months. It is not necessary, but it is necessary to remember about it, not always there is a good time for it to make effectively and not to lose a lot of coins. Trading even in the accumulation zone and accumulating positions (not necessarily, you can just rip out the movements and forget about a coin of one of hundreds) about this you need to remember.

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Reversal zone. Percentages of key zones and levels are shown on the chart. Key planned events in the world of finance and cryptocurrencies, which can significantly affect the price, are also specially marked.

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This is what it looks like on a linear price chart.

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Local work in the accumulation zone. The price from the breakout of the uptrend line (re-test of the mirror level 0.1842 of the breakout zone after the plummet) reached almost the second downside target -38% Decline of the price to the support of the accumulation channel almost 1 year. Thereby inside the horizontal channel forming a downward wedge. Working with its resistance.

It should be noted that under the support of the accumulation channel of more than 1 year there is a big amount of stop loss concentrated, as well as in most assets. Keep it in mind.

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wedge. The price at its resistance breakthrough (downtrend) + at the horizontal channel support zone. The accumulation zone of 1.3 years. The interest potential of the channel range is shown.

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DODO/USDT Secondary trend. Accumulation channel 08 2023

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Trade active

main trend, without "market noise"

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05/30/2024 We went with the second option with a local bearish bias. The percentages are maximum local, as previously shown from this key mirror support level of 0.1844.

🟢In the zone of this level (re-test of exit from the accumulation channel), a symmetrical triangle has formed with a target of about +40%. At the moment it looks locally bullish, provided that this support zone remains intact.

🔴Just in case, I showed bearish targets if this symmetrical triangle acts as the fabric of a bearish pennant, that is, in cases where the price does not consolidate at the resistance level of the previous long-term accumulation of 0.1844

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30 05 2024

SpartaBTC

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