Polkadot(DOT): Head&Shoulders Pattern = Good Sell Opportunity?
DOT coin is back on our spotlight with a great format forming here (head and shoulder pattern)
While we see good potential for this kind of movement, we still need to fully form that right shoulder, which can also be good for some short-term selling positions! But as always, our best entry relies on that neckline zone, which we are looking to break sooner this week!
Swallow Team
While we see good potential for this kind of movement, we still need to fully form that right shoulder, which can also be good for some short-term selling positions! But as always, our best entry relies on that neckline zone, which we are looking to break sooner this week!
Swallow Team
Comment:
After a sharp movement to the upper zones, prices eventually got back to the lower zones and went for that neckline zone, where we had a nice 14% market price movement.
After that, the neckline zone was broken, and it hovered nicely at 100 EMA, where there was a nice chance to catch 12% of market price movement.
After that, the neckline zone was broken, and it hovered nicely at 100 EMA, where there was a nice chance to catch 12% of market price movement.
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DOT has had so far a really nice rejection, which started the movement to lower zones. We are seeing currently a nice small 6% of movement, which is leading price towards our major entry zone (neckline zone), which we want to see broken!