DOT/USDT has broken a descending trend and seems for a potential breakout. In these scenarios, price action often revisits the breakout level which could lead for a potential good entry.
- Look for an entry as price touches the previously broken trendline.
- Place a stop loss below the low pivot point.
- Target: Upside first target is around 5.55$ (a previous low pivot). I would close the 70% for the position and make this pivot my new stop. Second target is around 6.60$ if it comes to this I would close the remaning 30% (whole of the position left).
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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.