readCrypto

Polkadot (DOT) - August 7

BINANCE:DOTUSDT   DOT / TetherUS
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(DOTUSDT 1M Chart)
The key is whether it can be supported by rising to the 11.72-14.93 section.


(1W chart)
In order to rise to the 11.72-14.93 range, the key is whether the price can be maintained above the 7.16-7.74 range.


(1D chart)
Primary resistance: 9.75
Secondary resistance: 11.03-11.72

Support: 6.89-7.74

A drop near 9.75 is likely to create a pull back pattern.

At this time, you need to check if it is supported in the 6.89-7.74 section.


The 11.72-14.93 interval is the interval that determines the trend.

Therefore, if it rises to 11.72-14.93 without being supported and falls, it is necessary to stop loss to secure cash.

Therefore, when it falls below 11.03 and receives resistance, it must be Stop Loss.


If you look at the overall chart, you can see that the current price position is at a fairly low price point.

It is good to get short-term profits by investing in coins or tokens in this price range, but I think it is better to increase the number of coins (tokens) from a mid- to long-term point of view.

To do this, it is necessary to check which ecosystem the coin (token) you want to invest in belongs to and is expanding.

This is because I do not think it is good to invest only with the roadmap or future-oriented plan (?) pursued by the coin (token) in a situation that is being combined with the actual business aspect.


The time has come to examine whether the coin ecosystem of the coin (token) you want to invest in is expanding and whether it is useful in actual business.

This is because the era in which themes such as DeFi, NFT, and P2E are created, interest is received using deposit services, and value can be traded through games has begun.

Investing in active coins (tokens) rather than investing in inactive coins (tokens) will give you the strength to survive in the uncertain coin market.

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** All descriptions are for reference only and do not guarantee a profit or loss in investment.

** The MRHAB-T indicator, which is inactive on the chart, contains indicators that indicate support and resistance points.

** Background color of Long/Short-S indicator: RSI oversold and overbought sections
** Background color of CCI-C indicator: When the short-term CCI line is below -100 and above +100, oversold and overbought sections are displayed.

** The OBV indicator was re-created by applying a formula to the DepthHouse Trading indicator, an indicator disclosed by oh92. (Thanks for this.)

(Short-term Stop Loss can be said to be a point where profit and loss can be preserved or additional entry through split trading. It is a short-term investment perspective.)

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[Example of exchange chart setup]

(Binance)
www.tradingview.com/x/S94aDxa8

(Upbit)
www.tradingview.com/x/DF6cGh3G/
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