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DOTUSD Broke above the 2 year Falling Wedge!Polkadot (DOTUSD) just broke above the Falling Wedge pattern that was in effect since early 2021. This 2-year pattern has been basically dictating the pace of the current Bear Cycle but as you see on this 1W chart, it eventually ran out of room, was trading tightly within its top (Lower Highs trend-line) and bottom (Lower Lows trend-line) in the past 2 months and eventually broke to the upside. This alone is a major bullish development but we would like to see a closing above the 1D MA200 (orange trend-line) in order to confirm the end of the Bear Cycle. If broken, it will be the first time the price is above the 1D MA200 in more than a year (since January 05 2022). In that case, the Fibonacci retracement levels can be targeted in succession, with the 0.5 (Fib) at 15.50 estimated to get reached by August 2023. A strong sign that shows that the market has priced its bottom is the 1W RSI, which has been flat on its Support since June 2022 and also broke above the Lower Highs trend-line that started all the way back to the February 2021 High. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
BINANCE:DOTUSDLong
by TradingShot
2
DOTUSD Can't stop this death spiral unless the 1D MA200 breaks.Polkadot (DOTUSD) has been trading within a Channel Down pattern since the November 08 2021 High. Our previous DOT analysis was on July 16, which hit its target with the help of that pattern: In early November the price broke above it marginally but as it failed to cross the 1D MA200 (orange trend-line), the 1D RSI formed a top (red circle) and caused the price to drop. As you see, this pattern is consistent with both previous Lower Highs, a 1D RSI on these levels forms a top and causes the price to drop aggressively. This 'Death spiral' can only stop with a break above the 1D MA200, which is the Resistance since January 05. Until then, we can expect DOT to make a new Lower Low either on the 0.786 Fib around 5.00 or even lower on the 0.618 Fib (4.50 - 4.00) before the end of the year. ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 👇 👇 👇 👇 👇 👇 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
BINANCE:DOTUSD
by TradingShot
7
DOT/USDT - LONG 12H TF----- Welcome, dear followers! ----- - Here is my trading methodology. I trade with a normal system and analysis of resistance and support, as well as price reversal patterns. - For the record, I do not place a stop loss within my trades. So that I only risk 1.5% of my total capital in order to support the loss due to a price reversal against me. - If a price reversed against my expectation and touched the drawn line r3, then I transferred targets to the entry point and waited for the price to close at it with a loss equal to almost zero. - Today's deal is shown in the chart, and here are the entry and exit points below. -- Support me with numbers and follow up on my account for other deals in the future. Thank you for coming to this part. -- ------------------------------------------------------- ⚡️⚡️ #DOT/USDT ⚡️⚡️ Client: My-Binance Futures Trade Type: Breakout (Long) Leverage: Cross (2X) Entry Targets: 1) 6.9 - 100.0% Take-Profit Targets: 1) 7.468 - 25.0% 2) 7.968 - 25.0% 3) 8.573 - 25.0% 4) 9.653 - 25.0% Trailing Configuration: Entry: Percentage (0.5%) Take-Profit: Percentage (0.5%) Stop: Breakeven - Trigger: Target (1)
Long
by Mahdicryptodotma-pro
DOTUSD 8.80 short-term targetPolkadot (DOTUSD) has been trading within a clear Channel Down on the log scale ever since its last market top in November 2021. The price has been unable to break above the 1D MA50 (blue trend-line) since April 21. The recent Bullish Divergence on the 1D RSI though (being on Higher Lows against the price's Lower Lows) may be a first indication of an upcoming rebound at least on the short-term. In fact the price action since mid-June is similar to that of February - March. The rebound on that sequence was to the 0.618 Fibonacci retracement level, which on the current pattern is a little over $8.80. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
BINANCE:DOTUSDLong
by TradingShot
4