BYBIT:DOTUSDT 1H trend chart - Price left a long tail before, then rallied rapidly. Here, we can combine them as 1 candle, means support level around $41 still works. Now, it broke out this short-term downtrend line, so here is a first timing you can open long. However, there is a resistance zone around $42.84, can confirm price stands at it or not.
In a nutshell, closure of previous candle $42.515 is 1st point 2nd point is $42.84 if stood firm of 1H chart. I suggest that 2nd point, which is low-risk strategy. - Profit Targets: a) 44.81----Fib(1) b) 46.21~46.77----Fib(1.272~1.382) Stop losses: a) 41.345----Red horizontal ray b) 39.515----Red horizontal ray I provide 2 SL, depended on the risk you can take! - If you like this analysis, give it a like and leave a comment below to share your perspective or let me know what crypto you want to see!
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