RLinda ! DOTUSDT-> Forming a long set-up
Updated
DOT forms a reversal set-up after a false break of the upward channel support. At the same time, the price forms a retest of the global resistance line. Price indicates future potential
A correction was formed earlier, which ended in a false breakdown of channel support. A peculiar pattern H&S is forming near the channel base, which might hint at the end of the correction and growth continuation.
The price forms the retest (dotted line) of the descending resistance, breakdown of which might generate a strong impulse, which will send the price to 9.000.
In the medium term I expect breakdown of the resistance zone, fixation of the price above the level of 6.800-6.900 and further growth. The short-term target is the resistance level of 8.06, the medium-term target is the liquidity zone of 9.000
Regards R.Linda!
A correction was formed earlier, which ended in a false breakdown of channel support. A peculiar pattern H&S is forming near the channel base, which might hint at the end of the correction and growth continuation.
The price forms the retest (dotted line) of the descending resistance, breakdown of which might generate a strong impulse, which will send the price to 9.000.
In the medium term I expect breakdown of the resistance zone, fixation of the price above the level of 6.800-6.900 and further growth. The short-term target is the resistance level of 8.06, the medium-term target is the liquidity zone of 9.000
Regards R.Linda!
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