DOT/USDT: Analyzing the Downtrend and Key Support Levels
DOT/USDT is on downtrend
The entire Market try to confuse with the low volutality and slow movements.
DOT tried to break resistance on 5.27 area but instead it grabbed the shorts and stop losses and tried to convince you guys to open Longs.
Clearly it is a bull trap cause it's next move is to go after Longs. And believe me they are a LOT..
Next Bull run is still couple of months away. Not sure yet as BTC/Dom rising steady. While BTC/DOM will reach 6000 then will be the perfect moment for longs.
But at the moment try to avoid Long positions especially with high leverage.
DOT will retest 4.3 area, it might push it a bit lower. We will see how market react then!
Spreading your capital in this case would be ideal and not to open Big positions straight away.
Remember, we are not day traders ,our job is to identify the trend!
Stay safe and trade with extra cautious.. If you will open Shorts try to be covered at least 23.5% in the opposite direction.
TRADE SAFE
The entire Market try to confuse with the low volutality and slow movements.
DOT tried to break resistance on 5.27 area but instead it grabbed the shorts and stop losses and tried to convince you guys to open Longs.
Clearly it is a bull trap cause it's next move is to go after Longs. And believe me they are a LOT..
Next Bull run is still couple of months away. Not sure yet as BTC/Dom rising steady. While BTC/DOM will reach 6000 then will be the perfect moment for longs.
But at the moment try to avoid Long positions especially with high leverage.
DOT will retest 4.3 area, it might push it a bit lower. We will see how market react then!
Spreading your capital in this case would be ideal and not to open Big positions straight away.
Remember, we are not day traders ,our job is to identify the trend!
Stay safe and trade with extra cautious.. If you will open Shorts try to be covered at least 23.5% in the opposite direction.
TRADE SAFE
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.
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.