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DOTUSD trade ideas

PolkadotPolkadot is beginning to weaken, not only in itself, but particularly in comparison to that of Bitcoin. As we've discussed at length here on TW, Bitcoin continues to show some bullish sentiment due to its recent technical breakout in MARA/BTC. As long as this pertains, we'll stick with the majority of our position in Marathon Digital Holdings. 60 percent of my portfolio is currently in Marathon. The remaining 40 percent is spread out in alts. With that said, I might consider reallocating a good chunk of those alts into Marathon as a few of them show emerging weakness, both individually, but even more so when directly compared to Bitcoin. On the Poladot versus Bitcoin chart, the price was once again rejected by the horizontal resistance zone - and this after a minor fakeout. On top of that, the price has recently dropped below the diagonal support as well and is presently trading in a weak spot. And to add fire to the flames, we also have a 3-point RSI divergence on the daily chart. If this bearish internal trend were to continue, it naturally doesn't mean the price of Polkadot may go down. All it means is that Polkadot will then be expected to under perform versus that of Bitcoin. Let's then dig a bit deeper to find more clues of the overall market health condition. If we proceed to look at Polkadot itself (as in compared to the USD), we can firstly detect that it's trading right at the horizontal support zone. On top of that, the RSI looks strong too and for two reasons. Firstly, it has retraced quite much - by almost 20 points to be precise - from a mere and seeming price correction. Secondly, it is still trading within a strong bullish red RSI channel. So far it shows every sign of health. This in combination with the strong horizontal support zone and the thus far strong bull trend gives me no reason whatsoever to be bearish on Polkadot. Quite the opposite! This means that if we put the just-turned-bearish DOT/BTC next to the nicely and bullish-looking DOT/USD we can technically conclude that Polkadot's trend is up, but that it is yet statistically bound to under perform versus that of Bitcoin. This in turn leaves us with the conclusion that Bitcoin is even more bullish. To further add weight to our technical case - as in to further increase the probability of being correct - we will soon proceed to compare more individual alts and their respective strength-relationship to that of Bitcoin. But for now, it's Bitcoin season 1 - altcoin season 0, yet with both looking technically bullish regardless.
POLONIEX:DOTUSDLong
by LongLifeTrading
DOTUSD long-term channel and arcs within channelIt seems impossible given the boring price action on DOT lately.. However, the current dominant arc is telling us a move to $95-120 is happening within the next month. Looking at the longer-term patterns, we can see it has all been happening exactly according to the patterns. That smaller arc had almost perfect touch points all the way, almost too perfect! It was clearly broken to the upside and now we see a retest of that arc. The larger arc in play now had some long wicks on the slide down that vary on different exchanges, so there is some room to extend the right side of the arc out longer, depending how you draw it. Playing around with it, the one here is my favorite. Regardless of how you draw the arc, it is telling us a fast move towards the upper trend line is coming. That upper trend line has just two confirmations, but it matches up with the arc and is the best guide for now given DOT's limited history. There is added risk due to the uncertainty of that upper trend line, so choose your strategy accordingly. Of course, it can break above that line as well, if DOT sees strong adoption when the first parachains go live. $300+ is possible. Also be aware that an eventual return to the long term support trend line is likely, so be sure to take some profits when your personal targets are reached. I'm currently LONG and looking for a strong move up in the next 2 weeks. This would be invalidated if it breaks down back into the smaller arc, or fails to break back above $50 by the end of this month. Long term, I think DOT has a good chance to be a highly used crypto ecosystem and follow an explosive price pattern similar to Ethereum, Binance Chain, Cardano and Solana. Enjoy and good luck.
KRAKEN:DOTUSDLong
by funtimes
DOT faces rejection at $46 as bears takes overPolkadot price analysis is bearish today. Resistance for DOT/USD is present at $46.4. Support for DOT/USD is present at $42.7. The Polkadot price analysis shows that the coin got rejected from further upside as the price went near $46.1. Earlier, the DOT was rejected at $47.6 on 11th November, and it seems like bears are tightening their grip day by day, as now the price trend line has started forming slightly downwards. Every upwards price cap is lower than the previous one from 8th November onwards, which shows bearish empowerment.
KRAKEN:DOTUSDLong
by ExpressTradeAcademy
PolkaDot DOTUSD - HUGE Parallel Channel on the Daily chart- Polkadot - DOT - Rank #8 -Coin - Polkadot is strong on the daily timeframe , as we can see. - The price broke out of the bullish falling wedge and now is unstoppable! - On the daily time scale, we can spot a huge blue parallel channel , which acts like a support and resistance . - Target top of the chanel or 1:1 fib extension on the daily chart . - For expected duration of the trade, probability, stop loss, profit target, entry price and risk to reward ratio ( RRR ) - please check my signature below ↓ - Due to my Elliott wave count, the correction is totally over and we can expect a higher prices! - If you want to see more of these ideas, hit "Like" & "Follow"!
KRAKEN:DOTUSDLong
by UnknownUnicorn2537518
6
DOT ReviewAgain, working to understand different ways to analyze charts. Here's a review of DOT that appears to be accurate. We'll see how it lands here in the next 6 days. But if the process worked we should see DOT hit $46 on 11 November. Obviously no guarantees and the market will do what it wants, but getting my analysis reps in. Would be great to hear feedback. Am I missing anything? Are there any built in indicators, strategies, or patterns that could have done this faster/better?
COINBASE:DOTUSDShort
by Trynreadme
DOTUSD on the 1D MA50 targeting +$100Polkadot has been one of the hottest high cap cryptos since September's correction. The application of the Fibonacci Channel shows even more effectively how well it has been repeating the early 2021 rally. As seen on this 1D chart, DOT rallied with the support of the 1D MA50 (blue trend-line) in Q1 2021. On the current sequence, the 1D MA50 has been supporting since August 01. It is therefore possible that as long as it holds, DOT will go after the 5.0 Fibonacci extension (horizontal) which is around $150. It is the firms thesis that this crypto will reach at least $100 during this run. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
BINANCE:DOTUSDLong
by TradingShot
4