My impression is that DOT will move further toward my 1st target although eventually it just follows BTC and when I say follows I mean literally mimic it with a magnified movement. This means that despite DOT showing signs of bearishness if BTC starts pumping it will pump along.
On D1 I see many wicks on the bottom of the candles which means sells were absorbed but at the same time means that SL were triggered and people must have placed many orders below those wicks, orders which looks tasty to liquidity hunters.
On weekly the impression is we'll have a "darth maul" candles thich is sign of indecision (due to BTC ranging) but to which very often follows a continuation.
Here the chart:
I personally would love DOT below 5 USDT but this will happen only if BTC allows it. If all of a sudden we see a candlestick over 5.63 with enough volume this bearish scenario is invalidated.
This TA is just for long time frame investment, can give ideas for short terms trade but I think it's more useful in case you plan to buy since we're close to the bottom UNLESS I'm wrong and the bottom is in.
Good luck
On D1 I see many wicks on the bottom of the candles which means sells were absorbed but at the same time means that SL were triggered and people must have placed many orders below those wicks, orders which looks tasty to liquidity hunters.
On weekly the impression is we'll have a "darth maul" candles thich is sign of indecision (due to BTC ranging) but to which very often follows a continuation.
Here the chart:
I personally would love DOT below 5 USDT but this will happen only if BTC allows it. If all of a sudden we see a candlestick over 5.63 with enough volume this bearish scenario is invalidated.
This TA is just for long time frame investment, can give ideas for short terms trade but I think it's more useful in case you plan to buy since we're close to the bottom UNLESS I'm wrong and the bottom is in.
Good luck