DOT had good price growth over the past week!

DOT had good price growth over the past week. Considering that the price had hit the bottom of the descending channel in the range of $5 in the high time frames, we saw the formation of a double bottom pattern and the return of the price above the range of $5.4. This pattern, which is clearly recognizable in the 4-hour time frame, has confirmed the break of this resistance pattern as the pattern's neckline was formed at the $5.4 range.

In the same period of time, we can expect further growth up to the short-term target range of $6 by considering an upward trend line on the last pivots and until this dynamic support is fully maintained. The trend is still bearish until the $6 resistance is broken. There is a possibility of a larger twin bottom pattern forming on the intraday, where the $5.10-$5.30 support level could be a good support area to retest demand.

🔵 We provide daily Crypto, Forex, and Gold signals.

🟠 Let us help you gain more profits and control your loss.

🔵 Telegram channel:

🟠 Website:

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.