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DOT/USDT Downward wedge Secondary trend.

BINANCE:DOTUSDT   DOT / TetherUS
Secondary trend. The price is near the dynamic support of the uptrend. A downtrend wedge has formed (secondary downtrend). Potential trend reversal zone in case of its breakthrough.

Important support/resistance zones, trend and formations shown on the chart. At the moment it is interesting to work, because of the intersection zone of the uptrend (green) and the downtrend (secondary).

Also there is a probability of breaking out stops before the reversal, as a rule, all put them under the trend line , it is important that the price does not stay under it for a long time.

DOT/USDT Main Trend. Wedge .
Comment: +50%
Comment: +113% The second target zone of the wedge has been reached.
Comment:
Comment: after taking out stops (marked earlier zone) the secondary uptrend is developing. The price is under the resistance zone (May 2021). Possible sideways movement under this resistance (breakout attempt). This is an important trend reversal or continuation zone, in a global price in a potential large uptrend channel. From the trend reversal (initial entry point, breakout of wedge resistance) +190%
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Comments

Wonderful job!
+1 Reply
SpartaBTC KlejdiCuni
@KlejdiCuni,Thank you.
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so I can assume this was the retest or does the wick not count only full body candles?
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SpartaBTC ictremyc
@ictremyc, A breakdown of downtrend resistance (wedge resistance) occurs, it is necessary to wait for the price to consolidate. If this does not happen, there is a local correction, for example similar to EOS/USD and a double bottom is formed (reversal pattern), and then a new trend reversal (sideways movement with a large %).
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SpartaBTC ictremyc
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SpartaBTC SpartaBTC
@SpartaBTC, Example of price movement in the absence of a price fixation and development of a pullback after a breakdown
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SpartaBTC SpartaBTC
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ictremyc SpartaBTC
@SpartaBTC, Thanks for the explanation mate good job
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SpartaBTC ictremyc
@ictremyc, Glad to share with the community of traders
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