DOT is forming a descending triangle -> bearish pattern!
When the green support zone of the triangle is broken, then it's very probable that we are heading towards the purple dotted support line.
We could see bounces from the green dotted lines as well, these are also fib. extensions.
Everything changes if we would break and close above the downwards red resistance line of the triangle, however this is less likely.
When the green support zone of the triangle is broken, then it's very probable that we are heading towards the purple dotted support line.
We could see bounces from the green dotted lines as well, these are also fib. extensions.
Everything changes if we would break and close above the downwards red resistance line of the triangle, however this is less likely.
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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.