USDT/DOT Speculative Trading Idea

DOT / TetherUSBinance

Description

⋅ Nov 9, 2023 2:26 PM

Below is a speculative trading idea for the DOT/USDT pair.

Currently, the asset's price has broken through an inclined level after updating the minimum at the price of $3.550 within the current global downtrend. After reaching the $3.550 level, there was a rebound, amounting to over 41% to the current price. This situation indicates an attempt to break the local downtrend in effect in 2023.

As we anticipate a price correction, we identify two entry points for the asset to continue the upward movement within this correction.

[url= tradingview.com/x/khtDvayQ/]

We place our first limit orders to buy DOT at price levels of $4.550 with a growth potential of 37% to the price level of $6.273.

We place our second limit orders to buy DOT at price levels of $4.220 with a growth potential of 50% to the price level of $6.273.

Trade closed: target reached

⋅ Dec 8, 2023 11:28 AM

We have reached the target and are closing the entire position at a price of $70.50, taking 25% profit.

Comments

Rick_SimpleSwap

⋅ Dec 11, 2023 3:19 PM

FYI the last idea update is about the SOL/USDT trading scenarios, not for USDT/DOT. Just noticed - but we can't edit any idea updates on TradingView, so please click on the chart below and find the update there

amirmoayed

⋅ Nov 10, 2023 4:34 AM

Great job

Rick_SimpleSwap

⋅ Nov 10, 2023 8:27 AM

@amirmoayed, hi thanks! Appreciate it

oldparrot

⋅ Nov 9, 2023 6:46 PM

Great job @Rick_SimpleSwap! Tks
Do you think that we are in a good buy zone right now? In your opinion what are the range prices for a good accumulation looking for long term?

Rick_SimpleSwap

⋅ Nov 10, 2023 8:29 AM

@oldparrot, the DOT's price is now very low, more than 90% below its ATH. If you trust the project and are willing to take on the risks, taking a long-term investment position is relevant - within the scope of your investment strategy, of course.