PolkaDot - Bullish above 6.2290The outlook is leading credence to a further rise to the upper end of the last weeks flat trading range and the mustard yellow line joining the highs.
DOTUSD trade ideas
PolkaDot - DOT/USD - Bullish signal triggeredBINANCE:DOTUSDT triggered a bullish pattern (double bottom) and is currently accelerating up in a wave 3 - leading credence to a 'direct' further rise.
dotusd will correct for wave 2 then massive highim analysing a leading diagonal wave 1
I think we are in a correction for a wave 2 , let cross fingers to catch the boom
Polkadot longPolkadot broke trough off the upper boundary of descending channel. Bullish movement to resistance level at 7.6 is expected to happen.
DOT LONG IDEADOT is slowly moving down towards a strong support area in a descending wedge formation - I expect a bounce on or before this region
Polkadot: 22% drop or $7 retest ?Hello all and thanks for your continuous support.
As the entire market, so does polkadot headed south today.
Currently trading inside a falling wedge pattern, the chances for breaking bullish out of this pattern are very little. As such, my bearish price target for this pattern formation is $4.70. This is our 161.8% fibonacci retracement level.
The $4.7 is the lowest horizontal support level since December 2020.
Keep an eye on the descending line of support of this falling wedge pattern sitting at $6. If we loose this level we are going to $4.7. This will be another 22% drop. If the price successfully breaks above the fib golden pocket we have a chance of retesting the $7.
Thanks for reading, and stay tuned. Enjoy.
DOTUSD (Polkadot): Bearish Continuation
Dotusd closed below a key daily demand area.
Now, the coin will most likely keep falling to a current low - 0.602
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Alt Season...Many will instantly dismiss the idea of any cryptos going up anytime soon - however I believe we're in the early stages of an alt season/potential new bull run - this cycle could last years also and new highs will come naturally - ETH is probably the most important asset in the world right now and everything important is gravitating towards it - I believe everything is going on the blockchain to some degree and the infrastructure is being built before our eyes - the innovation spark of this next alt cycle will be layer 2s imo which will onboard loads of new users seamlessly to layer 1's like ETH making the whole Web 3 narrative a reality and speed up the adoption curve.
Ever seen a 🐳 w/ a POLKA #DOT tail? DOT/USD 12hr trade set up.
Looking to go long if price action confirms $6.80 as support (Entry option #1).
W/ a break down of $6.80 I will be looking to $6.44 to see if this level confirms as support (Entry option #2)
Most Alts pose a bit higher risk at the moment due to the possibility of Bitcoin breaking down while it flirts with 19.3-19.5k but they also pose a higher reward.
Entry 1: $6.80
Target 1: $7.90
Target 2: $8.60
Stop Loss: 4% below entry based on your own risk.
Entry 2: $6.44
Targets: Nothing changes
Stop Loss: 4% below entry based on your own risk.
Never trade with out a stop loss unless you want your swing trade to turn into a HODL position.
Should support break down and confirm, I will be looking for another Entry at #2.
$DOT/Broadening Wedge In the Money Zone (PENDING)$DOT has formed a nice broadening wedge at the 886 range from the last swing high to swing row and is now trying to establish/validate a new local higher low above $6.76 at the $7 range. The MACD and RSI has printed hidden bullish divergence on both oscillator's indicating that momentum is started to build back up to possibly break through the top of the wedge and have a nice run...
We were due for a pullback after the last few weeks being manly green candles.. Overall, this is healthy price action and I don't think anyone should be panicking, as this is just traditional price action after a good few weeks for crypto...We also got some good news from the ETH merge.
Cheers
**DISCLAIMER, THIS IS NOT AN ACTIVE TRADE ATM, I AM JUST FOLLOWING THE STANDARDS OF TRADITIONAL TECHNICAL ANALYSIS. ANYTHING CAN HAPPEN**
Log Plot...So this is a little different to previous ideas - the projected moves are done in log scale with log fibs - I don't rate this being that likely at all but it is a possibility - typically the linear charts do a better job at forecasting future moves.
Dot Plot...Have plotted what I believe is the correct long term count for now - if our low is busted - future targets will change - Also have some reaction lines/fork if this move does something different.
We are on track with Polkadot
Update to our previous IDEA , Dot is playing out as we expected. Looking forward to see it hitting the 8.5 mark.
DOT/USDhmm let's check elliot waves.
maybe that could be a 70% of scenario.
i am using different trading strategy, but if we measurement a waves withg this scenario DOT will be hit 14bucks. (80%)
Looking Forward to See DOTUSDT Breaking Resistance.
Strong Buy flashed on DOT 2H chart followed with a Trend Tracer & Trend Catcher confirmation they both turned green.
Looking forward to see DOT Breaking the resistance line & retesting.
NFA as Always, Please do your own research. BINANCE:DOTUSDT
Polkadot longPolkadot bounced off the lower boundary of horizontal channel. Bullish movement to resistance level at 7.38 is possible.
Polkadot DOT: Not Looking GoodHello friends, today you can review the technical analysis idea on a 1D linear scale chart for Polkadot (DOTUSD).
The chart is self-explanatory. With the crypto market going through a correction, Polkadot may still have downside to go. See where I believe there may be strong support and possible bottom.
Included in the chart: Trend line, Support and Resistance Line, VPVR, Ichimoku Cloud, RSI, MFI and Volume.
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. More ideas below!
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
Polkadot: Pushing for $8.8 according to this pattern.Hello all, and thanks for supporting my channel.
Looking at DOTUSD on the daily timeframe, we see a formation of a falling wedge pattern which has a bullish price target at $8.90. This price also corresponds with the 78% fibonacci retracement level and is also the top of the weekly candle formation.
On the daily timeframe we are also trading inside the ascending channel which has support level sitting at $7 and resistance level at $10. For this channel, the Fixed Range Volume Profile provides a point of control at around $7.85 which is also the 50% Fibonacci retracement level.
On the 4hr timeframe, DOT broke bullish out of the $7.50 price, and is currently retesting this price for support.
As such, if the price of DOT can clear the $8 mark, we can retest the top of the channel at $10. This is approximately 30% move to the upside from the current point.
Thanks for reading, and stay tuned. Enjoy.
POLKADOT IS IN ACCUMULATION ZONEPolkadot seems to be in the demand zone($6.24 - 3.90) on the weekly time frame forming equal highs/lows. This possibly signifies an accumulation of orders at this zone before an explosive move towards the weekly supply zone of - $15.34- 23.78 region. This zone also coincides with the golden ration in the Fib retracement, which adds to our confluence.The RSI also seems to have stopped forming lower lows and looks like its displaying a potential reversal/bullish divergence in play.
If this move plays out(dependant on Bitcoin) we could see a sharp sell off once it reaches the supply zone.
If you are accumulating #Dot in these regions make sure to take some profit at this key level.
