DOT reached the depths of $10, and everyone gasped in awe. Now, the price has returned to median levels. With the rounding formation at the bottom, DOT taunts a parabolic move. We might be stuck in the range of 20 - 25 for a while. If the price dips near 20, I won't hesitate to buy the dip. However, if we don't dip near that level, I will wait to open a safe trade above 27.4. MA50 & EMA50 are acting as clusters of support near the rising parabola of the bowl-shaped formation. MACD suggests the possibility of ranging here for a while. Entering a trade at either 20 or 27.4 offers a decent R/R. Make sure you wait for the candles to close near these levels to confirm your plan.
Note
I am waiting for a retest of the red line.
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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.