Polkadot is entering a very interesting phase in it's development. On the 11.Nov the "PARACHAINS" auctions will begin, this event is a milestone in the ambition that Gavin Wood hve for an interconnected blockchain framework.
On the chart analysis, we can already see how this event is positively affecting the price action. DOT has been rising from 33 USD support zone to 46 USD in a matter of days, however the resistance zone that the price is actually testing will be determinant for the incoming price action.
We are waiting for a daily and weekly breakout of the 49/50 USD with a closure above this area in order to clear this resistance zone and see further increase in the price action for the incoming weeks, that we know, will bring lights and interest on the polkadot token because of the auctions ...
The best place to accumulate were the 28/33 accumulation range, as we told on our discord channel, however, to have limited risk and have a better RR in our swing trend, we have to be patient and wait for the 49/50 USD area to be cleared for this bullish trend to continue and take new positions
We have to be patient and cautious in order to manage our risk
The content covered in this publication is NOT to be considered as investment advice.
Thank you all,
If you enjoyed this analysis please mark a thumbs up and do not hesitate to share your point of view in the comment section.
Have a Good day and Safe trade
Butterfly .D
/Metamorphose your portfolio
On the chart analysis, we can already see how this event is positively affecting the price action. DOT has been rising from 33 USD support zone to 46 USD in a matter of days, however the resistance zone that the price is actually testing will be determinant for the incoming price action.
We are waiting for a daily and weekly breakout of the 49/50 USD with a closure above this area in order to clear this resistance zone and see further increase in the price action for the incoming weeks, that we know, will bring lights and interest on the polkadot token because of the auctions ...
The best place to accumulate were the 28/33 accumulation range, as we told on our discord channel, however, to have limited risk and have a better RR in our swing trend, we have to be patient and wait for the 49/50 USD area to be cleared for this bullish trend to continue and take new positions
We have to be patient and cautious in order to manage our risk
The content covered in this publication is NOT to be considered as investment advice.
Thank you all,
If you enjoyed this analysis please mark a thumbs up and do not hesitate to share your point of view in the comment section.
Have a Good day and Safe trade
Butterfly .D
/Metamorphose your portfolio