Looking for a DOT breakoutWithin a few more hours DOT should make an explosive move. I believe it will be up and out of the consolidation triangle.
Chance it breaks down, but I do not think this will happen.
Good Luck
DOTUSD.P trade ideas
$DOTUSD - Hang in thereHello everyone!
The cryptomarket corrected today after the release of economic data from the US, the US Dollar index almost hit 93, hence gained some weight over all assets traded against it.
There are various patterns on other altcoins, some like AUDIO even gained more than it lost today but we'd like focus on Polkadot.
So far it's above the dynamic support, and if keeps above it, will jump to 36 and 37.4.
However closing below this line might get the price to 32.
POLKADOT heading to a possible retracementDOT expressed some good performance over the last weeks.
The decreasing RSI is showing a loss of momentum but a further uptrend continuation is probable before a retracement on the indicated supports.
The overall bias is bullish on Polkadot on the next months!
What's your guess?
*Not a financial advice*
Polkadot Price AnalysisThe four-hour chart shows that a rising trend line has capped the price since the middle of August. The trend has been a constant source of rejection for the price and the catalyst for last week’s technical reversal. Furthermore, the trend which is currently seen at $39.00, proved the high for the last two days.
Therefore, as long as Polkadot stays below the trend line, a correction is possible. In that event, some obvious downside targets emerge. A rising trend line at $34.00 from last week's low is the first support level. Below that, the 21st of August high around $29.50 offers the next level of support. However, if the Polkadot price manages to clear $39.00 an extension to the $42.00-$45.00 is probable. Furthermore, above $45.00 and the all-time high of $49.77 could be under threat.
Feel free and get in touch for more ideas and trade signals
DOTUSD - Bearish Divergence-Bearish Divergence on the 1 day chart.
-More of this divergence can be seen in the near-term on a 4 hour chart, as well (not shown here).
-Stochastic RSI shows there may be a little more upward movement possible before a reversal.
-The 0.5 fib extension level, as well as resistance at $32.4 may be difficult to overcome, but price might push on up to the 0.618 fib. Let's see!
-Keep an eye on BTCUSD and ETHUSD, as they can affect DOTUSD's price.
Good luck, and have fun.
Note: Don't trade based on my ideas. They're worth exactly what you paid for them. I'm fairly new to this, and my charts are for my own entertainment, education, and record keeping.
$DOT/USD reaching ATH?DOT continues to rise without mercy.
After breaking through the strong resistance line of $30
, the golden cross of the moving average also overlaps. The strength of the rise is even higher.
The next resistance line is $40. Volume is also rising and MACD also has a golden cross about to be completed.
In addition, the weekly MACD is the first time completed with the golden cross.
The day to break out of $40 and reaching $50 is coming soon.
PolkaDot DOTUSDT - HUGE Secret Ascending Channel + New ATH soon- Polkadot is strong on the daily timeframe , as we can see.
- The price broke out of the bullish falling wedge and now is unstoppable!
- On the daily time scale, we can spot a huge blue parallel channel , which acts like a support and resistance .
- Target top of the chanel or 1:1 fib extension on the daily chart .
- For expected duration of the trade, probability, stop loss, profit target, entry price and risk to reward ratio ( RRR ) - please check my signature below ↓
- Due to my Elliott wave count, the correction is totally over and we can expect a higher prices!
- If you want to see more of these ideas, hit "Like" & "Follow"!
