Hey Traders,
As you can see on the 4HR of Polkadot (DOT.) The price action has formed Lower Lows and Lower Highs symptoms of a falling wedge! The price target out of this pattern would be at $23 (+22%). In the rare case it does break down, the target for that is $14 (-18%). There is a 70% chance Falling Wedges breakout to the upside and a 30% chance they fall to the downside. However, I think there is a VERY good chance we breakout mainly due to the Momentum Oscillator (RSI) showing a Bullish Divergence with Higher Lows while the Price is in a Decline.
Safe trading,
-Pulkanator
As you can see on the 4HR of Polkadot (DOT.) The price action has formed Lower Lows and Lower Highs symptoms of a falling wedge! The price target out of this pattern would be at $23 (+22%). In the rare case it does break down, the target for that is $14 (-18%). There is a 70% chance Falling Wedges breakout to the upside and a 30% chance they fall to the downside. However, I think there is a VERY good chance we breakout mainly due to the Momentum Oscillator (RSI) showing a Bullish Divergence with Higher Lows while the Price is in a Decline.
Safe trading,
-Pulkanator
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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.