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DOTBTC trade ideas

What to expect from $DOTHello and welcome to this quick market analysis Make sure to hit the like button in the end if you agree with my insight With the current structure on USD pair, it is safe to say that the bottom for Polkadot is in at $37, and now if you look at the BTC pair you can see that we broke below the triangle BUT I forecast that this break was a bull trap. In the near future I would like to see DOTBTC to trade inside this triangle once again and aim for the horizontal resistance, locating at 7800 satoshis. The bullish divergence on RSI, indicates that the bearish momentum is near to an end. If you check the USDT.D you can see for yourself that market is gaining momentum again, so I don’t want to miss any chances to catch the impulse moves on such coins and tokens like $DOT. My target for DOTUSD will remain at $60 and with current fundamentals on this space I think we will get there in near future.( late November) ANY WEEKLY CLOSE BELOW $37 WILL INVALIDATE MY FORECAST Stay safe, Stay profitable and don’t forget to hit the like button ;)
Long
by CryptoSep
2
Has DOT/BTC Set Its All-Time High? As I've stated in my recent posts, I think we're inching closer to peak market euphoria for crypto. Does this mean I think the top is in? Not necessarily. But it does mean that my bias is switching to selling, rather than buying. As I dollar-cost-averaged in during the bear market, I plan to scale out soon. I think this current crypto bubble is much more similar to the dotcom boom than the previous cycle. There's much more money involved this time, and a lot on the line. There appear to be less individual people taking out bank loans to buy crypto this time around (just based purely off Reddit posts) - we're instead seeing huge marketing efforts and more authentic crypto adoption by larger players. Adoption is good in the long run. It means crypto is likely here to stay (this was always a question after the last bubble popped). Now it's not a question. But this doesn't mean valuations need to stay this high. And the looming question of regulation remains. People on social media seem to be taking their gains for granted, and speaking in absolutes as if financial freedom is guaranteed. Especially with newer hyped projects. This chart is an example of a more newly hyped project, and how its recent price action compares with a legacy crypto like LTC. Looks quite similar. If DOT/BTC cannot break the supply zone overhead near 0.001, I think it's likely to head down towards all-time lows on the ratio. This is just an example of why I do not think "this time is different." Sure, there are some differences, as noted above. When you're wrapped up in the mania it's hard to see the other side. In any case, I've heard good things about Polkadot. I might even pick some up if we see another big crypto winter. There's an argument to be made for Bitcoin having less severe drops in the future, but as we saw this summer, many alts can just drop 50% in a single day, or 80% over the span of 2 weeks. My strategy is about managing risk in the long term, and it's starting to seem a little risky up here. This is not financial advice! This is meant for speculation only. This is only my personal view. -Victor Cobra
Short
by VictorCobra
8