Hello Traders!
The upward movement of DOT has corrected to the Fibonacci level of 0.618, as a result, the price stands in the buyers zone of interest of $25.00 - $28.50.
This opens up a good potential for a medium-term trade with a good risk/profit ratio.
We can look for buy entry in the range of $26.00 - $30.00
The position should be closed by the stop-loss if the price goes under the mark of $21.75.
The profit taking targets will be price levels of
$39,00
$45,50
$54,00
Good luck and watch out for the market
P.S. This is an educational analysis that shall not be considered financial advice
The upward movement of DOT has corrected to the Fibonacci level of 0.618, as a result, the price stands in the buyers zone of interest of $25.00 - $28.50.
This opens up a good potential for a medium-term trade with a good risk/profit ratio.
We can look for buy entry in the range of $26.00 - $30.00
The position should be closed by the stop-loss if the price goes under the mark of $21.75.
The profit taking targets will be price levels of
$39,00
$45,50
$54,00
Good luck and watch out for the market
P.S. This is an educational analysis that shall not be considered financial advice