DOT's short-term MA indicators on 1H timeframe using the SMA20, SMA34, and SMA55 have for the first time turned bullish since May 19th when the selloff began - DOT is also printing outside of the descending wedge pattern which is bullish and additionally testing the Inverse H&S pattern it has been printing for last few days since selloff.
The descending wedge pattern - which is a trend reversal indiactor - has a price target to the "B" point top which would be near $49... Lastly DOT did print a Hash Ribbons Buy signal on May 17th as well, this signal is still active until another hash ribbons process begins. I haven't seen this many bullish indicators line up all at once before in a coin - several other coins also have the same bullish pattern MA indicators bullish + Inverse H&S + Hash Ribbons Buy Signal... the confluence upside is big here
The descending wedge pattern - which is a trend reversal indiactor - has a price target to the "B" point top which would be near $49... Lastly DOT did print a Hash Ribbons Buy signal on May 17th as well, this signal is still active until another hash ribbons process begins. I haven't seen this many bullish indicators line up all at once before in a coin - several other coins also have the same bullish pattern MA indicators bullish + Inverse H&S + Hash Ribbons Buy Signal... the confluence upside is big here
Note
Parachains will be announced any day - first is the audit - then they will do an auction on their mainnet then VOILA - Parachains are fully launched .... DOT is about to have a massive weekly candle
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.