Polkadot Inverse Head & Shoulders
Updated
Potential price appreciation is about 42$ x2 measured from the head to the neckline, if price breaks above, we could see Polkadot changing hands around 95$ USD approx. Timeline being used is Daily, so this could happen sometime in Q1 or Q2 of 2022. This is purely TA, and we know that cryptocurrencies does not strictly obey TA, so this is just a possibility. Current price around 31, so a safe 3x play from here for more conservative players.
For the record, I am no longer using Binance due to jurisdictional conflicts, but most of my USD pairs are still on BUSD. I don't see the need to change them over for the time being. If you are buying polkadot strictly from a TA perspective, I encourage you to do some fundamental analysis as well, and at least understand the project and the ecosystem based around it. From my perspective, this is a long term hold with a moderate percentage of my portfolio.
For the record, I am no longer using Binance due to jurisdictional conflicts, but most of my USD pairs are still on BUSD. I don't see the need to change them over for the time being. If you are buying polkadot strictly from a TA perspective, I encourage you to do some fundamental analysis as well, and at least understand the project and the ecosystem based around it. From my perspective, this is a long term hold with a moderate percentage of my portfolio.
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Should have drawn the neckline a bit lower, thereby decreasing the price, but say 85-95 region as a target accounting for potential overshoot.
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