DOTUSD.PM trade ideas
DOTUSD Can't stop this death spiral unless the 1D MA200 breaks.Polkadot (DOTUSD) has been trading within a Channel Down pattern since the November 08 2021 High. Our previous DOT analysis was on July 16, which hit its target with the help of that pattern:
In early November the price broke above it marginally but as it failed to cross the 1D MA200 (orange trend-line), the 1D RSI formed a top (red circle) and caused the price to drop. As you see, this pattern is consistent with both previous Lower Highs, a 1D RSI on these levels forms a top and causes the price to drop aggressively.
This 'Death spiral' can only stop with a break above the 1D MA200, which is the Resistance since January 05. Until then, we can expect DOT to make a new Lower Low either on the 0.786 Fib around 5.00 or even lower on the 0.618 Fib (4.50 - 4.00) before the end of the year.
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Polkadot - I'm Interested..Polkadot is one I am eyeing closely for the next bullrun - with everything going on with Solana who knows what develops over the coming months/year.
I have my bids below if we get there, but clearly short-term resistances above and a key s/r level we're trading below as of now.
Daily candle closes in a couple hours and I think that will be telling of where it heads in the coming weeks.
Let me know your thoughts in the comments!
Cheers
DOT: Cycle bottom in at $4.3?DOT could be trading in a 1:1.618 ABC expanded flat correction with bottom targets at the cluster of fibs/support at ~$4.3. Dot just crossed another fib ring, so good chance the breakdown is coming soon. Looking at the volume profile, the most amount of DOT accumulated was also at $4.3. As DOT capitulates, I'd like to see more volume come in to signify a bottom.
POLKADOT UPDATE | DOTUSDWould be great to see a breakout above the falling wedge upper line with a retest to form inverse H&S
If that happens, could easily run 50% towards $9.3-9.5 area
Things take time.
DOT break weekly trend, confirmation soon?DOT is undervalued...if you asked me. And now we see DOT break the weekly trend. If the weekly close confirm the break, we can see some big action. Interesting times now with many opportunities and "big range trading". Let's hope the bullish sentiment stays intact so we can ride on all our long-trades :)
Polkadot - Bullish medium-term scenario - Potential 50% gainsPolkadot forming a long-TF ascending triangle on Daily
2nd bottom & re-test of the ascending triangle seams to be confirmed by:
- RSI bottomed and about to breakout (same levels as mid-july 2021 selloff)
- Current overall market reaction
- 23.6 Fib level acting once again as nice support
- MA 100 & 200 seem to re-create a similar pattern as during mid-july 2021 selloff
Potential 50% gains until EO Feb 2022.
Entry at 19-20$
Stop loss at 17.90$
--> Target 28-31$
Happy Trading!
PolkaDot - Bullish NOW -Hi the "whales calves" - Following this week crazy (amazing/great) moves, even if Ethereum remains the one and well oriented to the upside, would consider PolkaDot for a change; as the technical configuration appears clear. Preference to consider that the market completed its wave 4 bearish consolidation and a new bullish acceleration to take place on the current levels... Have Fun - Stay Safe
DOT Potential Tower TopKeep an eye out for a potential tower top to form. DOT is testing the 4H EMA 8 and is above the 4H MA 200, though the upper shadows makes it look due for a tower top.
#Long DOTUSDSymmetrical triangle breakout observed from top.
TP set as per back of the triangle
Stoploss set few pips below the bottom slope of triangle
DOT - Bounce in sight
After reaching 2 of my 3 pullback targets (see related idea), DOT got back on the downhill wagon and set a new short term low.
Nevertheless, we had a nice rejection candle which also gave us bullish RSI divergence (red line). A break of the falling wedge would lead to a recovery with first target at the 7.70-8.00 region.
DOTUSDT Falling wedge + bullish divergence in many indicatorsI'm deeply in love, don't you know pump it up, you got 2 pump it up.mp3
DOT SELL!!!DOT just reacted off the demand area. Looking to sell towards the supply area for a swing buy position. Let's see how it plays out.
Big oportunity,RiskReward 1-5 it deserves a try "If you can't beat the fear, do it scared!"
"Be fearful when others are greedy, and greedy when others are fearful!" - Warren Buffet.
"Markets are a device for transferring money from the impatient to the patient. - Warren Buffet
"Show me the charts, and I'll tell you the news." - Bernard Baruch
"The secret to investing/trading is figuring out how rich you want to be and how poor you're willing to become."
"If you want to live like the 5% of the population who are hugely successful, then don't act like the 95%!"
DOT short from 6.5 to 5.5Short on DOT from 6.5 to 5.5, there's a lot going on in this chart, old downward sloping resistance being respected, old support becoming new resistance. also, downward trending support levels still valid
$DOT | In A Channel: Rinse & RepeatDOTUSD while not at extreme levels on RSI, is still touching upper Bollinger Bands in a tight channel signaling LESS volatility. Which means, it should follow a consistent path of UP & DOWN trend. Couple this with the fact of the previous candle rejected at resistant, I predict this price to come back down to below the 20 MA right before the short term support line.
Rinse and repeat type of trade here.
Dot Fractal...Think we could be shaping up for a big alt run where alt l1s do very well as networks grow due to a rapid increase in blockchain adoption.
PolkaDot - Bullish above 6.2290The outlook is leading credence to a further rise to the upper end of the last weeks flat trading range and the mustard yellow line joining the highs.
