Short

DOT

Updated

The graph on Polkadot has already given the bulls a chance, created the Triple Bottom, the graph could no longer give the bulls a better boost, unfortunately the bulls surrendered too soon and the bears can soon show their claws.

Not the financial board.
Just for fun.

Trade active

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On Friday the 13th, this day I was expecting a correction, so it is possible that the market maker will take advantage of fear and send it up (eliminate short positions and test some support from below).
Otherwise, the direction is still down.

Trade closed: target reached

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In the previous idea, I set the bear target at $ 7, it has already been reached and what next?
DOT is currently in the area of strong resistance, if there is no breakthrough by the end of the week, I expect a move down.

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DOT has decreased by -40% since my last warning, the continuation of the decrease is likely.

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Polkadot is not fake like Solana.

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DOT is already sunk by -40% in the blow off phase, the big players need some time at the bottom to recover (min. 30 days).
If wicks are being bought out of the $3.6 area at that time, there is some chance that the DOT has bottomed out.
Otherwise it will go down more.

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If the market starts an upward rally, I can imagine the market maker making such a play for us on Polkadot.

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DOT has run and is trying to jump the obstacle, let's see how the jump succeeds.

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The DOT tested the R.V. and then rejection.
There is still no change in the trend and the recent growth may be erased soon, a new low is not ruled out.
Only if there is a valid closure above, the situation can change.

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I see weakness on the DOT chart at the moment, the bulls have failed to break through.
I see a rejection of the resistance and currently a break below the lower trend line of the channel.
If this is just a show for the bears and the bulls try to break through once more, it cannot be ruled out.
But if there is no breakthrough and a valid closing above, then nothing changes.
If it continues to decline, it could probably hit a new low in two months.
Below I can envision a round bottom and inverted head and shoulders, a strong pattern that will entice traders to enter and the liquidity provided will trigger a rally.
Big players enter the head, traders after the creation and confirmation of a complete pattern and retailers classically during the rally just before the crash.

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I see the situation like this, even if it were to go higher, nothing changes for me if it does not close above the descending channel.

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DOT has been holding back on support for a long time and giving time to buy, I am afraid that this support will subsequently be interrupted and fall to the previous minimum or below.

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Trade active

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DOT hit the target, if consolidation takes place there is a possibility of a double bottom and a subsequent bounce.
But for now there is a risk of continuing even lower.

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DOT is lingering in the area of the double bottom and tempting the bulls to go long. In a bull market it would be a good entry, but we are not in any bull market.
Many altcoins have already returned to the beginning of the rally in December, where many traders were calling for a bull market and already predicting meaningless targets.
In the current market without liquidity, I cannot be bullish.
People are still very bullish, they see that it's down 90% and buy, but that doesn't mean it can't drop another 50-90%.
We are not at the bottom.

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I can see that the bulls were easily lured into the double bottom.
They have to lose at least another -50% to stop touching him.
People are still very bullish.

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It looks like the bulls are slowly falling into the abyss, then I can imagine that the market maker will let more bulls enter the triple bottom at 4.2 USD (maybe even below) and finally dump them.

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DOT exactly hit 4.2 USD, the rebound from the triple bottom is very easy, I see that liquidity was not selected below the previous bottom.
I expect it to drop more.

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DOT has broken below support, but if traders start shorting like crazy, the market maker will push them up before the final plunge into the abyss.

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After a false return above the support, the bulls have fallen below the support again and continue to fall into the abyss.
I don't really enjoy this game anymore, ridiculously predictable so far.

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