DOT / TetherUSLong
DOT
Based on the attached chart for DOT/USDT (4-hour timeframe), here is a short-term analysis for buying and taking profit:
**Buy Zones:**
- Current Price: 7.630
The price is approaching local support around 7.500–7.600. This could be a good time to enter a position if the price holds in this zone.
- Stronger Support: 7.000–7.100 (a strong zone marked on the chart with a blue line)
In case of a correction, an opportunity to add to the position in this area.
**Targets (Take Profit):**
- **Short-term (local resistances):**
- TP1: 7.900–8.000 (local resistance on the chart)
- TP2: 8.300–8.500 (weaker resistance)
- **Medium-term (stronger resistances):**
- TP3: 9.000–9.300 — a significant barrier where previous supply levels could have hindered upward movements.
**Strategy:**
- **Purchase:** Consider buying in tranches, starting around 7.600, with additional purchases at the stronger support level (7.000–7.100).
- **Stop Loss:** Set below 7.000 (e.g., at 6.950) to limit risk in the event of a downside breakout.
**Profit Realization:**
- Take partial profits at TP1 (7.900–8.000), and additional tranches at higher resistance levels.
**Notes:**
- The MACD on the chart indicates the beginning of a potential momentum shift towards bullish, which may support short-term upward movements.
- Monitor price reactions at the resistance zone (8.000). A breakout above this level could suggest further gains.
Cryptocurrency trading involves significant risks, but proper capital management, education, and a conscious approach can help minimize potential losses. It is essential to always have a plan, avoid excessive risk, and never invest more than you can afford to lose.
**Buy Zones:**
- Current Price: 7.630
The price is approaching local support around 7.500–7.600. This could be a good time to enter a position if the price holds in this zone.
- Stronger Support: 7.000–7.100 (a strong zone marked on the chart with a blue line)
In case of a correction, an opportunity to add to the position in this area.
**Targets (Take Profit):**
- **Short-term (local resistances):**
- TP1: 7.900–8.000 (local resistance on the chart)
- TP2: 8.300–8.500 (weaker resistance)
- **Medium-term (stronger resistances):**
- TP3: 9.000–9.300 — a significant barrier where previous supply levels could have hindered upward movements.
**Strategy:**
- **Purchase:** Consider buying in tranches, starting around 7.600, with additional purchases at the stronger support level (7.000–7.100).
- **Stop Loss:** Set below 7.000 (e.g., at 6.950) to limit risk in the event of a downside breakout.
**Profit Realization:**
- Take partial profits at TP1 (7.900–8.000), and additional tranches at higher resistance levels.
**Notes:**
- The MACD on the chart indicates the beginning of a potential momentum shift towards bullish, which may support short-term upward movements.
- Monitor price reactions at the resistance zone (8.000). A breakout above this level could suggest further gains.
Cryptocurrency trading involves significant risks, but proper capital management, education, and a conscious approach can help minimize potential losses. It is essential to always have a plan, avoid excessive risk, and never invest more than you can afford to lose.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.