---- Mid-term Analysis for the next coming 4 weeks to 3 months - Daily on Daily Chart (LOG)-------
DOT/USDT: On Buying area, Direct rise expected
Context - The Global Crypto market leads by BTC and ETH is still evolving within a bearish market configuration. Like the others digital assets DOT suffered about negative global market situation. - However we are focus on a key buying area now on this coin and we expect a fast and quick recovery regarding technical elements
Market configuration
- Graphical Elements : Graphical Resistance = 14 & 31 Graphical Support = 5,50 & 2,00
- Mathematical Indicators: EMA ( Exp Moving averages) are still capping the market = Bearish RSI indicator (below) is bouncing off key support = Bullish
- Elliot & Harmonic Wave (Fibonacci): Fibonacci Target C (B) has been already reached = 9,50 Fibonacci resistance of the wave in progress = 14,00 Fibonacci support of the wave (c) (B) (max extension) = 5,50 Fibonacci Bullish Target = 19,00 (auto-similar move)
Conclusion
Preferred case => Regarding the mid-term element, DOT is offering the perfect entry area for a mid-term portfolio configuration in order to anticipate a bullish exit towards 14,00 and 19,00 as long as 5,50 remains support - In extension a larger rise towards the previous top at 31,00 can't be ignored