DOT - Near Bottom, 40%+ Upside?
Updated
PolkaDot burst on to the scene back in mid August. It's been touted as the "Eth Chain Killer" once or twice, and after public statements that it should have a value of $5 with a 5b market cap, it shot up to a 5b market cap and became one of the top listed coins out there. I imagine the conversation at PolaDot went something like "I can't believe that actually worked".
We're at the bottom of a price consolidation triangle, lower highs throughout but a solid bottom support since Dot's creation. Indicators are decent for a potential reversal back up to the $5.00 range.
This gives us a pretty easy call: Set a stop loss below the historic hard resistance level and either buy now or wait for the breakout from the triangle. We're at the tip so should be pretty clear which way we're headed soon.
Potential TP's and SL are charted.
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I'm a guy that you don't know posting his ideas on the internet for the sake of improving as a human being. If you take this as financial advice, that's on you.
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We're at the bottom of a price consolidation triangle, lower highs throughout but a solid bottom support since Dot's creation. Indicators are decent for a potential reversal back up to the $5.00 range.
This gives us a pretty easy call: Set a stop loss below the historic hard resistance level and either buy now or wait for the breakout from the triangle. We're at the tip so should be pretty clear which way we're headed soon.
Potential TP's and SL are charted.
--
I'm a guy that you don't know posting his ideas on the internet for the sake of improving as a human being. If you take this as financial advice, that's on you.
If you like my analysis, then leave a like and feel free to follow for more free content. Feedback, criticism and crude humor are welcome :)
Note
TP #1 Hit :)Note
Good chance of hitting 2nd TP before market correction. When we get a correction, I recommend shorting of course. VERY bullish on DOT
Come hang out with me on telegram, it's free and I won't be too mean too mean to you:
t.me/KadnimCrypto
t.me/KadnimCrypto
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