DOT → Rocket to the Upside? This Simple Analysis Answers That!DOT reversed from $5.88 into a bear channel on November 11th and had three pushes down that ended 10 days later. This point of impact included contact with the 200EMA which resulted in a large bull bar closing near its high. So is the bear channel over and this bull flag play out?
How do we trade this?
The current price area is crucial to whether or not we long here. If this bar closes on or near its high it will be yet another strong bounce off of the 200EMA forming a higher low. Such an occasion gives us enough justification to enter a long position, placing a stop below the 200EMA and targeting the previous high when the bear channel started.
It should be noted, that the price is below the 30EMA and the bear channel resistance, so watch out for resistance at these levels. Be prepared to either take some profits at the bear channel resistance or get out if the price action begins to show signs of reversal, such as strong bear candles closing on or near their lows.
Taking selling half of your position for profit at bear resistance gives you about a 1:1 Risk/Reward. You could move your stop loss up to break even, and then you've locked in profits. The remaining half of your position becomes a bonus at the 1:3 Risk/Reward, which should allow you to make more rational decisions in your trade management.
Trade Idea
Long Entry: $5.14
Stop Loss: $4.92
Take Profit: $5.80
Risk/Reward Ratio: 1:3
Key Takeaways
1. Bear Channel/Bull Flag, Look for Long Entries.
2. Three pushes down, Bear Capitulation Candle on the Third.
3. Strong Bull Response on 200EMA, Reversal Evidence.
4. Currently forming a higher low, wait for the Candle to Close.
5. RSI coming up from 33.00, Bias to Long.
You are solely responsible for your trades, trade at your own risk!
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Dotbullish
dot buy position as you can see we have strong area on 26-28 price
so if price can move too the up side and pullback too that strong area we should buy
if its came too 78.6 fib we have too just buy it and wait for 100% gain on wave 5
macd and rsi both have nice divergence for bullish move
also dot are working on web3 and that have good news for fundamental
DOT RUNNING! - UpdateDot has broken past the local golden pocket and the final major local resistance, and is currently pressed against the top of the major golden pocket,. which tracks back from the May - July dip.
Chart Patterns:
Dot rejected the bearish head and shoulders pattern that I had previously predicted on Sept 30th.
The Head and Shoulders pattern from September could be looked at as a symmetrical triangle with a target price the length of the tail (around $44)
The technical indicators shown:
MACD - Has turned up and is bullish green, which signals to me that DOT will break farther upwards.
RSI - Shows bullish RSI divergence moving forward. Note, I have the bearish RSI Divergence marked from April - MAY which signaled the major dump. The bullish RSI divergence SHOULD be the same, but opposite, strength as what we had in May.
Fix Range Volume indicator: Shows we have broken past the volume resistance.
ITG Scalper - Shows a buy signal from about a week ago.
My strategy:
First off, I would like to note that DOT in my opinion has been manipulated HEAVILY in the last few months and should be a top 5 project.
I closed position between 38 and 36, and started looking for a buy position when DOT bounced off of the $26 mark. I entered around the $28 mark and currently holding that position.
If we bounce off of the golden pocket with force, I will close position and look to reenter around 30, or on the break upward past the golden pocket.
If we break past the top of the golden pocket, my targets are: $44, $50 (this is ATH), $62.
Currently looking for a price target at the end of the bull run $100 by December, $250 if extended.
This is not Financial Advice.
DOT is bullish?Now we are supported at 26-28, This is a strong support and we are still in up trend. now is accumulate the volume, we can see a huge pump if bitcoin price is going up. So, we have to wait and see. If it break 33, i think going to 40-45 is not an issue.
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Polkadot, what next?Chart Overview
* 3 Day Dot/Btc Daily
* Gann Box
* Fibbonaci Circles (0.618 to 0.786)
* Red Shaded Rectangle (Potential Resistance formed by VPVR)
* Green Shaded Rectangle (Potential Support formed by VPVR)
* Diagonal Cross/45 degree line (Blue)
* Vertical Cross (Green)
Analysis
DOT is sitting within the Fibbonaci Circle and the two price/time Gann lines, the line below the price that forms the diagonal cross represents the 45 degree line which is considered an ideal balance of price and time and could form a strong support heading upwards. The line above could act as resistance keeping the price within a megaphone pattern. The green cross can act as pivotal price points which can push the price up or down.
Conclusion
Dot has seen a massive correction, more so than many other coins, even if it were to break down below the diagonal cross or 45 degree line, strong support is awaiting making the bearish argument hard to make. The bullish argument is strong, we are close to lots of support (the 45 degree line, the 0.786 circle, the green rectangle) and resistance is far ahead at 0.0006.
Targets
* Less Likely: Bearish = 0.00032
* More Likely: Bullish = 0.0006
What do you guys think, bullish or bearish?
*Disclaimer: Not professional advice.
DOT/USDT Price PredictionDOT hasn't had a big correction for a while.
If DOT breaks out of the falling wedge we will see a correction between 34.2703 to 29.5545 if this is the case we would have a good buying opportunity.
When we look at the RSI Indicator we can see that DOT is at a critical point, if we break below the 38.05 RSI line we will see a correction.
If we manage to stay above 48.54 I think we will continue to remain bullish.
I think we will see a huge pump after the correction.
TP1: 37.6266
TP2: 42.3867
TP3: 44.8217
These are just my thoughts don't take this as financial advice. Good luck :)
😀We managed to hit our target on the double bottom pattern (14.04%). 😀
Buy Opportunity Polkadot to set New ATH $50 Mid-late MarchPolkadot (Dot) Buy opportunity! Potential 50%+ Gain to set a New ATH of $50 at the 161.8% Fibonacci Level. Dot's price soared to a high of $42 on 20/02/21. Since setting this new ATH, it has lost some momentum, retracing down to a low of $26 on the 23/02/21 after such an impulsive move, but currently it is still trading 45% above this low 4days ago on the 23/02/21.
The fundamental outlook for Dot in the long-term is great and still very much bullish, its total Market Cap is at $33.7 billion and currently ranked 6th biggest digital currency in the world after Bitcoin, Ethereum, Cardano, Binance Coin and Tether. Over the coming month we expect Dot to retest the previous ATH of $50 at the 161.8% Fibonacci extension.
Note this may not be a straight forward push, but a bullish momentum powered by 3 push phases. Use the Buy Zone area to map your entries, Zone 1 at the 23.6% level and Zone 2 at 61.8% Golden ratio. Overall, there is a high probability that Dot's price will break out higher (50% Gain from current price levels) as the bulls target the next resistance at $50.
DOT/BTC another Breakout soon ?DOT / BTC
price show bullish accumulation pattern against BTC pair in previous high swing area
Holding above MA 20
The volume is strong
From previous experience...it can do massive Breakout soon..but if only BTC keep calm and Dominance drop a little
You can check too my previous idea about DOT against Tether (USDT) pair here 👇
Good luck
Daily analysis of DOTBUSD - Speculation for the next momentsTechnical analysis regarding the price of POLKADOT in relation of dollar attached to Binance for the next scenarios, based on daily movement.
The price is falling, forming candles with smaller lows on these days, making a price correction, which may materialize in the retraction of Fibonacci (pink line) and / or reach the neutral region (gray line), where the price broke with force.
I believe it will reach that pink line and make a bullish streak, continuing with its macro bullish trend.
disclaimer
*** This is not a recommendation to purchase and/or sale. It is for educational purposes only. ***
DOT is dropping to complete next bullish setup for upto 190%The priceline of Polkadot (DOT) is completing the final leg of bullish BAT pattern, the targets as per the Fibonacci sequence of BAT are:
Potential reversal or buying zone: 0.00022208 to 0.00017438 btc
Fibonacci projection or sell zone: 0.00033582 to 0.00050650 btc
Regards,
Atif Akbar (moon333)