🔴 DOT/USDT – Approaching Key Short Zone
Polkadot (DOT) has formed a rising wedge after rebounding from local lows. Price is now facing a critical short zone near 3.897 – 3.985, where sellers may step in if DOT cannot sustain upward momentum.
Chart Formation: The rising wedge often indicates potential bullish exhaustion; a break below wedge support confirms a bearish bias.
Volume Consideration: Look for a surge in sell volume near entry levels to validate a short entry.
🔴 Short Position DOT/USDT
🎲 Entry Levels
Entry 1: 3.897
Entry 2: 3.985
✅ Take-Profit Targets
TP1: 3.798
TP2: 3.648
TP3: 3.472
TP4: 3.256 (extended downside if momentum persists)
❌ Invalidation Level: 4.131+
(A strong close above 4.00+ invalidates the short setup.)
🧠 Narrative: This wedge suggests a potential bearish retest if DOT fails to break higher. A rejection at 3.89 – 3.98 may send price to lower supports.
Market Context: Overall market sentiment and Bitcoin’s trend can influence DOT’s movement; a strong BTC rally could negate this setup.
⚠️ Risk Management: Place stops just above 4.131+, size positions carefully, and stay flexible if price action indicates continued strength above the wedge.
"Take Care of Risk Management for Your Account"
Polkadot (DOT) has formed a rising wedge after rebounding from local lows. Price is now facing a critical short zone near 3.897 – 3.985, where sellers may step in if DOT cannot sustain upward momentum.
Chart Formation: The rising wedge often indicates potential bullish exhaustion; a break below wedge support confirms a bearish bias.
Volume Consideration: Look for a surge in sell volume near entry levels to validate a short entry.
🔴 Short Position DOT/USDT
🎲 Entry Levels
Entry 1: 3.897
Entry 2: 3.985
✅ Take-Profit Targets
TP1: 3.798
TP2: 3.648
TP3: 3.472
TP4: 3.256 (extended downside if momentum persists)
❌ Invalidation Level: 4.131+
(A strong close above 4.00+ invalidates the short setup.)
🧠 Narrative: This wedge suggests a potential bearish retest if DOT fails to break higher. A rejection at 3.89 – 3.98 may send price to lower supports.
Market Context: Overall market sentiment and Bitcoin’s trend can influence DOT’s movement; a strong BTC rally could negate this setup.
⚠️ Risk Management: Place stops just above 4.131+, size positions carefully, and stay flexible if price action indicates continued strength above the wedge.
"Take Care of Risk Management for Your Account"
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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.
Telegram: t.me/Crypto_Sheykh
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.