After last breakout DOT formed a falling wedge which usually goes up, moreover, even if very mild, there's a bullish DIV on 4h RSI and also on MFI (not shown here because I don't have tradingview PRO account). Price has also bounced off BB lower band so this should head upwards from here but off course it's all up how market will behave.
If everytime BTC dumps people sells his alts we'll be stuck here forever. As I've written in other analysis and I'm probably gonna paste in every one with education purpose: "Unfortunately in cryptomarket if BTC goes down people freak out and sells everything. Which makes no sense to me, is like betting against your own team only because the strongest team of the league loses.".
Please share my thought, every BTC dumps doesn't mean bull season is over or other crypto are over as well!
To enter the trade use the control line (red one) on volume profile as resistance, if we close a candle over that you can open a position there, however if volume remains low I think we can postpone the breakout. Entering at this point I think it's pretty risky.
If everytime BTC dumps people sells his alts we'll be stuck here forever. As I've written in other analysis and I'm probably gonna paste in every one with education purpose: "Unfortunately in cryptomarket if BTC goes down people freak out and sells everything. Which makes no sense to me, is like betting against your own team only because the strongest team of the league loses.".
Please share my thought, every BTC dumps doesn't mean bull season is over or other crypto are over as well!
To enter the trade use the control line (red one) on volume profile as resistance, if we close a candle over that you can open a position there, however if volume remains low I think we can postpone the breakout. Entering at this point I think it's pretty risky.
Comment:
DOT broke out, retested the wedge and now bounced back. To be bullish it need to close a candle over 34.62