DOTUSDT - Combine 2 candles and 2 appropriate points for entry
DOTUSDT1H trend chart
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Price left a long tail before, then rallied rapidly.
Here, we can combine them as 1 candle, means support level around $41 still works.
Now, it broke out this short-term downtrend line, so here is a first timing you can open long.
However, there is a resistance zone around $42.84, can confirm price stands at it or not.
In a nutshell, closure of previous candle $42.515 is 1st point
2nd point is $42.84 if stood firm of 1H chart.
I suggest that 2nd point, which is low-risk strategy.
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Profit Targets:
a) 44.81----Fib(1)
b) 46.21~46.77----Fib(1.272~1.382)
Stop losses:
a) 41.345----Red horizontal ray
b) 39.515----Red horizontal ray
I provide 2 SL, depended on the risk you can take!
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