Me, like everyone else got rather excited when i saw DOT rebounding from a critical support, since it usually mean a strong rebound. However, after a second look, things are not that easy at the moment since acording to ichimoku there is some solid resistance above,, also in the 4h timeframe the Kumo cloud is getting thinner meaning that support is losing its resistance, also the lagging span is close to the volume, so some sideways movement will be in motion. I have actually closed my position after realising that in since in the daily timeframe we are not yet entering or above the Kumo, and I want to have confirmation frome th TF above in order to take an entry at the TF below (4h). Overall i'm not saying its not possible that a bullish transition is starting, but it may be too soon to start jumping on the bandwagon since most signals are just barely positive.
Tread carefully
Disclaimer: This is a personal interpretation of the market charts, and is not intended in any way to sustain or provide financial advice.
Tread carefully
Disclaimer: This is a personal interpretation of the market charts, and is not intended in any way to sustain or provide financial advice.
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.