Polkadot (DOT) Analysis - Fundamental and Technical.
Updated
Hey, I am back with yet another Crypto Idea.
Polkadot, a coin that come to my attention, why you may ask?
Let me explain.
So the coin is on exchanges only 5 days and is already on the #8 place of cryptomarket which is really crazy when you think about it..
The coin is already listed on Binance, Bitfinex, OKEX, Kraken, Bittrex and Coinbase is also thinking about listing.
What I understand by learning about Polka is this.
It's a blockchain which contains other blockchains.
Distributed network that stops big companies from owning your information.
Allowing freedom and trust by default.
A virtual operating system like windows for the next internet.
So basically this very heavily focuses on your Privacy and also connecting many Cryptocurrencies into one Network.
Looking at Technical Analysis.
The price of Polkadot is at resistance area, and as you may know we are in alt season where we buy Resistance areas, because they are very likely to breakout, not speaking about this one coin which has a huge hype currently so let's ride the wave!
Price is currently breaking out of falling wedge in strong uptrend channel.
Hope this goes well for us, I am in since $4.35.
I recommend to either buy the breakout or try to buy at the uptrend line of this channel.
My target will be very dynamic as we dont have any previous resistance levels higher than 4.55
I will keep this idea updated if there is going to be enough likes :)
Cheers,
Tibor
Polkadot, a coin that come to my attention, why you may ask?
Let me explain.
So the coin is on exchanges only 5 days and is already on the #8 place of cryptomarket which is really crazy when you think about it..
The coin is already listed on Binance, Bitfinex, OKEX, Kraken, Bittrex and Coinbase is also thinking about listing.
What I understand by learning about Polka is this.
It's a blockchain which contains other blockchains.
Distributed network that stops big companies from owning your information.
Allowing freedom and trust by default.
A virtual operating system like windows for the next internet.
So basically this very heavily focuses on your Privacy and also connecting many Cryptocurrencies into one Network.
Looking at Technical Analysis.
The price of Polkadot is at resistance area, and as you may know we are in alt season where we buy Resistance areas, because they are very likely to breakout, not speaking about this one coin which has a huge hype currently so let's ride the wave!
Price is currently breaking out of falling wedge in strong uptrend channel.
Hope this goes well for us, I am in since $4.35.
I recommend to either buy the breakout or try to buy at the uptrend line of this channel.
My target will be very dynamic as we dont have any previous resistance levels higher than 4.55
I will keep this idea updated if there is going to be enough likes :)
Cheers,
Tibor
Note
Good morning everybody, thanks for all the support, let me share some updates.So first of all, TP1 was hit.
One hour chart looks very good, btc was falling, so was DOT, but now we have a very bullish wicks. The RSI is also above 60 which means we are still in strong bullish trend.
Note
I expect the volume to come, when the RSI goes above 60.Note
Despite of Bitcoin moves down, Dot still manages to be in an uptrend.Note
Whole market is going down, but Dot has no chills. Currently breaking out and has printed out a bull flag. Note
I am sorry, but it looks like my previous Dot chart is not entirely correct because the Dot has printed much bigger flag! Note
Uptrend line on DOT/USDT is still active. RSI is seeing a higher lows and one hour RSI is above 60, so still has potential to move in a faster way.Note
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