DOT Bottom Out - The Right Time to Ride the Bulls
The Back Ground
It's almost a week DOT is trading in a multi-month support zone which is a well established and there was very few chances for price to break below and now with the rally of other alt-coins it's also gearing up and I witness signs of bottom out, There will not be a immediate rally but the price we see today seems reasonable to get a long.
Point:
On the D1 chart RSI divergence is playing its role, RSI and Price again start a move in correlation and currently RSI reach to 50 level which is a good sign for bulls, There is only a week resistance that it will clear in this week and then it can start its bullish journey. Moreover volume is returning in this crypto.
Pay Attention to Today Close and Break of Resistance
Wait for today close, if its a green candle that close above 26.50 then you are clear to enter, in this week it has potential to break the descending trend line and horizontal trend line.
Use a wise stop loss that is below $20 where tp1 is $36.50 and TP is $48
It is not financial advice; always do your research.
Please, feel free to ask your question; write it in the comments below, and I will answer.
It's almost a week DOT is trading in a multi-month support zone which is a well established and there was very few chances for price to break below and now with the rally of other alt-coins it's also gearing up and I witness signs of bottom out, There will not be a immediate rally but the price we see today seems reasonable to get a long.
Point:
On the D1 chart RSI divergence is playing its role, RSI and Price again start a move in correlation and currently RSI reach to 50 level which is a good sign for bulls, There is only a week resistance that it will clear in this week and then it can start its bullish journey. Moreover volume is returning in this crypto.
Pay Attention to Today Close and Break of Resistance
Wait for today close, if its a green candle that close above 26.50 then you are clear to enter, in this week it has potential to break the descending trend line and horizontal trend line.
Use a wise stop loss that is below $20 where tp1 is $36.50 and TP is $48
It is not financial advice; always do your research.
Please, feel free to ask your question; write it in the comments below, and I will answer.