This is just some very basic T.A! Please do your own research and analysis!
It looks like DOT might want to break above the uptrend its created. At the moment we can see a potential IHS on the 30M. Indicators says this is a potential long. My personal target is around 8.00$ before we might see much bigger sell offs. The trend is your friend until the end.
Market Cap
$5,918,347,531
Technicals at "STRONG SELL" on the 1 day. Which is also a very good sign to me for a potential pump.
My point / opinion on the coin.
This is most definitely not a long term HODL in my opinion. Every mudcoin is the next coin to overtake a large cap coin. Don't buy into it! Enter where you think its appropriate and take profits at acceptable points. This is mostly why I made this post. Good luck. Cheers to anyone who rode profits!
It looks like DOT might want to break above the uptrend its created. At the moment we can see a potential IHS on the 30M. Indicators says this is a potential long. My personal target is around 8.00$ before we might see much bigger sell offs. The trend is your friend until the end.
Market Cap
$5,918,347,531
Technicals at "STRONG SELL" on the 1 day. Which is also a very good sign to me for a potential pump.
My point / opinion on the coin.
This is most definitely not a long term HODL in my opinion. Every mudcoin is the next coin to overtake a large cap coin. Don't buy into it! Enter where you think its appropriate and take profits at acceptable points. This is mostly why I made this post. Good luck. Cheers to anyone who rode profits!
Comment:
Just to clarify I'm not saying buy now. But I think this is the dump IHS play. I don't trade off any indicators I just like to have them around sometimes to have a better understanding. I just bought much more DOT now if this breaks under the trend line I will consider selling!
Comment:
Looks like its just doing its own thing not too familiar with this style of candles. Still in an uptrend so will be waiting.
Comment:
One more note I would like to add is the fact that the last time we slapped the trend line like this it got bought up. Will it happen again? Lets see.
Comment:
Pump to retest upper trend line will be hopefully today. Saturday might be the day this breaks over the trendline maybe. Sunday or Monday might be the sell. IF this does break over the trend and hits a big pump consider taking profits! A common play would be to break over the trend and fall back down to retest it or just might hit very hard dumps after that! Market Cap $5,412,478,510 I am not convinced that this will double in value from here or hit big targets like 20$. That will take a much longer time then people expect in my opinion. Of course I could be wrong and anything can happen.
Comment:
It looks like we might be playing a different pattern. However we are still in the uptrend! Weekends we typically have a higher chance of a pump. We might just keep staying in the trend until it reaches close to 8$ then bounce down. I will be considering selling once its close to the upper trend line. As long as we don't dip too far outside of it this should be still acceptable to hold onto. I've adjusted my stop loss in profit.
Trade closed: stop reached:
I manually closed this trade in profit. Look at the price of Bitcoin it looks like we are not going to hold this trend in my opinion! I suspect we will hit one last hump and go down to possibly 10.5k! This will impact DOT aswell in my opinion as we are dangerously low to the trendline so take it as you will you will. Place your stop losses in an appropriate area to minimize your losses if you are going to let this ride!