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DOTUSDT trade ideas

Polkadot's exit from the bearish channel is confirmedHi everyone, As I mentioned about CRYPTOCAP:DOT conditions on November 19th, after Bitcoin climbing above $40,000, the smart money is slowly pouring into the crypto market's top altcoins, and CRYPTOCAP:DOT has finally broken out of the bearish channel and headed to its targets. Accordingly, $6.86 and $10.59 targets will be available for CRYPTOCAP:DOT in the coming days. I also expect CRYPTOCAP:DOT to stop at $7.75, $8.75 and $9.75 before reaching the $10.59 target. Also, the 100WMA in the area of ​​$8.30 is still the most important resistance of CRYPTOCAP:DOT before reaching the target of $10.59. Goodluck
Long
by BJWiseReal
2
DOT/USDT 1HInterval ChartPlease see the chart of DOT in pair with USDT. First, we will use the blue lines to mark the downward trend channel, where the price is moving in the upper range, but in this channel, the yellow lines can be used to define the local upward trend channel. Going further, we can move on to marking support areas when we start a larger correction. And here the first support is at the current price level of $5.23, then we have a support zone from $5.12 to $5.03, and then we have a strong support zone from $4.81 to $4.65. Looking the other way, we see that the price has reached the resistance zone from $5.33 to $5.40, which it does not have the strength to break yet. However, if it manages to come out on top and out of the downtrend channel, it must overcome the zone from $5.50 to $5.63. Please look at the RSI indicator, which indicates a rebound with room for the price to drop to a lower level, while if we look at the STOCH indicator, we will see that it is moving at the lower limit, which resulted in a slowdown in the correction and may result in a temporary price rebound.
by cryptodailyuk
DOT Polkadot Price TargetIf you haven`t sold DOT here: Then you need to know that Binance, along with its CEO 'CZ,' has confessed to federal charges and committed to settling fines amounting to $4.3 billion. The crypto exchange “admits it engaged in anti-money laundering, unlicensed money transmitting and sanctions violations"! The question arises: from where will these substantial funds be derived? One possible source is Binance's Proof-Of-Reserves, which reportedly exceeds 100%. Among the tokens impacted is DOT Polkadot. I've set a short-term price target for DOT Polkadot at $0.41. Looking forward to read your opinion about it!
Short
by TopgOptions
3
DOTUST - SHORT Technical Analysis on DOT/USDT (Polkadot/Tether) - Short Trade Setup Overview: The analysis focuses on the DOT/USDT trading pair, evaluating its current market conditions and proposing a short trade strategy based on technical analysis. The primary observation is that DOT/USDT is currently trading within a bearish channel. Bearish Channel Analysis: A bearish channel is identified when a financial instrument consistently forms lower highs and lower lows. This indicates a downward trend, suggesting that sellers are in control. For DOT/USDT, this downward-sloping channel serves as a visual representation of the prevailing bearish sentiment. Key Resistance Line: Within the bearish channel, there is a notable upper resistance line. This line has been consistently limiting upward price movements, acting as a barrier for the bulls. Identifying this line is crucial for our short trade setup. Confluence with 61.8% Fibonacci Level: To strengthen the analysis, the upper resistance line coincides with the 61.8% Fibonacci retracement level. The Fibonacci retracement tool is widely used in technical analysis to identify potential reversal levels. The confluence of the upper resistance line and the 61.8% Fibonacci level adds significance to this price zone, making it a strong potential reversal area. Short Trade Setup: The proposed short trade involves entering a position when the price retraces to the upper resistance line within the bearish channel. This retracement provides an opportunity to enter the market at a favorable price, anticipating a continuation of the bearish trend. Take Profit Strategy: The take-profit level is set at the 121.2% Fibonacci extension. Fibonacci extensions are used to identify potential levels of support or resistance beyond the standard retracement levels. In this case, the 121.2% extension serves as a target for the short trade, suggesting a potential area where the price could experience a more significant downward movement. Risk Management: To manage risk, a stop-loss order should be placed above the resistance line or a recent swing high. This helps limit potential losses in case the market behaves differently than anticipated. Conclusion: The analysis suggests a short trade opportunity on DOT/USDT based on the bearish channel, the upper resistance line, and the confluence with the 61.8% Fibonacci level. Traders should be diligent in monitoring the trade and adjusting their positions according to market developments. As with any trading strategy, risk management is crucial to protect against unexpected price movements.
Short
by Adam-Robinson