Polkadot (DOT); Where is the Bottom?
Hello Traders! CTDave here again with another daily price analysis chart.
From the chart, it is obvious that the light blue lines form a possible broadening top. DOT
DOTUSDT almost reached the point of support. The two lowest orange lines show the demand zones. If we zoom in on a lower timeframe, we would see that DOT is in a bullish breakout triangle right now. RSI also shows that it's almost oversold.
From the charts you can see that the low would probably be at around ~$4. After that, we might expect it to shoot up with a small retracement at ~$40.
Thanks for reading!
As always, I encourage everyone to please like, comment, and share my ideas, and follow me for more of these posts to be kept updated. Happy trading! Thank you!
Note: I am not a financial advisor, please do not trade solely based on my trading decisions. Do your own research or consult a professional financial advisor before conducting a trade.
From the chart, it is obvious that the light blue lines form a possible broadening top. DOT
DOTUSDT almost reached the point of support. The two lowest orange lines show the demand zones. If we zoom in on a lower timeframe, we would see that DOT is in a bullish breakout triangle right now. RSI also shows that it's almost oversold.From the charts you can see that the low would probably be at around ~$4. After that, we might expect it to shoot up with a small retracement at ~$40.
Thanks for reading!
As always, I encourage everyone to please like, comment, and share my ideas, and follow me for more of these posts to be kept updated. Happy trading! Thank you!
Note: I am not a financial advisor, please do not trade solely based on my trading decisions. Do your own research or consult a professional financial advisor before conducting a trade.
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