thecryer

Polkadot on his way back

Long
KRAKEN:DOTUSD   Polkadot / U. S. Dollar
it's always very difficult to analyse new coins because more we can back in the past, more it's easy to find supports and resistances.

Dot is still performing a good come back as you can see by his multiple bounces on a forming uptrend Line. Like always the King is controling those coins by his dominance so you always have to check BTC before entering a trade and exit fast if a dip happens.

Simple Targets :

- TP1 4.80$ (38.2% retrace)
- TP2 5.50$ (61.8% retrace) - Strongest Resistance

Stop Loss : 3.90$

Happy Tr4Ding !
Comment: TP1 Reached
Comment: Retracing with BTC.
Comment: important area reached back.

Comment:
Trade closed manually: TP1 reached, now under BTC dominance. Broke Uptrend Line.
Comment: Target reached with delay as BTC still have strong dominance.

Comments

Great work. Excellent chart and analysis. Spot on.
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thecryer boombox4444
@boombox4444, thanks mate!
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