JJMa

Potential Broadening wedge formation on DOTUSD

Long
BINANCE:DOTBUSD   DOT / Binance USD
Long term buy & hold on polkadot for me, so this is merely a snapshot of where the asset is now in relation to USD or BUSD as the chart I'm using. Price can still go lower, and at this point, I'm deploying a small amount of BTC on dips, rather than USD as my USD is being used for other projects currently. Also staking, and compounding. If you zoom out on this one, there is an inverse head and shoulders which points to much higher prices from here, but that is not guaranteed and it can go lower, so the amount of BTC I deploy from here on, will be paltry amounts that add up over time. The broadening wedge is potentially forming, so that's only potentially bullish , and it can also be interpreted as a bear flag in formation, hence the caution. Would probably be looking for a test of 34/35 USD for more confirmation.

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