DOT/USD Fibonacci ForecastThe analysis I make is just an idea not an investment advice. Please manage your risk while trading and please make your investment decisions only by yourself.
DOTBUSD
(DOT) POLKADOT - Cup and HandleHello everyone !
Today the Black Cat Trader is analyzing DOT based on a weekly chart.
What we can see :
- A nice Cup and Handle pattern has been printed on the weekly chart. We can see that prices recently broke the neckline at 37.80 $
- Using the pitchfork (low : 3,60 high : 49,78 Low : 10,37) we can see that prices are stuck between the median line and the intermediary lower line of the pitchfork.
What we can expect :
- The ideal scenario would be for prices to make a pullback on the neckline of the C&H pattern at approximately 36,50$ and then take off to go even higher. You can see that the expected pullback area is located exactly where the intermediary lower line of the pitchfork is.
- Using the trend-based fib extension we can mathematically expect prices to reach two targets that match with our C&H objective too (208,25$).
Take profit 1 : 85$ (1.618)
Take profit 2 : 131$ (2.618)
Take profit 3 : 177$ (3.618)
Take profit 4 : 208 $ (C&H objective)
Support 1 : Neckline of the C&H / Intermediary lower line of the PF
Support 2 : Mid-term ascending trendline
Support 3 : Lower line of the PF
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MAY THE CRYPTO BE WITH YOU GUYS (D.Y.O.R)
Polkadot 4H time frame Daily update.My analysis is based on the orderbook data available on binance. I use orderbooks to predict its impact on technical indicators which are incentives for investors to either buy or sell.
Based on my current projection I feel we may have some narrow trading, with support near the 29$ area.
POLKADOT : DOTUSD NEW BASE / POSITION TRADEPolkadot: Networking For Blockchains
The Polkadot blockchain aims to provide interoperability and security to other blockchains, helping to solve issues like scalability.
In a multi-blockchain world, interoperability could be a potentially valuable function. If a small number of blockchains becomes dominant this value proposition will be significantly weakened though.
Polkadot is currently the leading interoperability blockchain, but its value is uncertain and dependent on how the blockchain ecosystem evolves in the future.
SOURCE: Richard Durant, Polkadot: Networking For Blockchains, Mar. 08, 2021 11:38 PM ET, SeekingAlpha
seekingalpha.com
Polkadot: Can DOT 10x in 2021?? DEEP DIVE!! (Video)
SOURCE : COIN BUREAU, Jan 12, 2021, YouTube
www.youtube.com
Polkadot - Consolidation ended and going for a new high nowDOTBUSD - Looks like it finished a Flat correction. Notice how price stopped at the 127.2% Fib projection of wave a which is a usual termination point for wave C of a Flat correction.
Price is now at the VWAP from the high which could act as temporary resistance but as long as price remains above 26.6 I think it's going to go higher.
Since I don't know exactly where the beginning of wave 1 is (and using 0 doesn't really help), it's a bit difficult to pinpoint the termination point of wave 5, therefore we must be attentive to the price action once a new high is made.
First target zone though is at 56/63 followed by 89/91.