Here we can notice a possible crossing of the EMA20 (Orange color) and the SMA50 (Purple color). This would be the first cross after a huge bull run on 1d chart. Something similar to Cardano
Something negative to highlight is that since the fall of #BTC, which affected everyone. We all had losses, sadly.
Polkadot has had 9 bearish candles on the 1d chart.
Something that has not happened since December 27, 2020.
But.. Identifying supports, resistances and demand.
Once we have finished identifying all the supports, there are only 2 currently. Sadly DOT already has more resistance than support. And we could see a fall even though it sounds absurd at 20 usdt. or 25.
In the worst situation that I doubt happens, see a fall to a ridiculous demand zone. That is 5 - 10 usdt, believe it or not, many people want to buy there since the previous year.
But I doubt it will happen. It would be super weird.
But that area is still in demand, so we cannot ignore it.
Now that we have the supports and resistances, let's see the 2 possible scenarios.
Sadly though I would like to say that DOT is on the rise. BTC falls further, and my dream died.
Now not everything is USDT pair.
In Pair BTC. Dot is retesting the support where it usually bounces.
Let's see the psychological part of the bulls and bears
The bears started pulling the price from April 18.
Managing to pull it for the third time near the 26.5 USDT support. Which is pretty obvious to notice.
Giving the bulls force to pull the price higher, in an attempt to bounce. Indicating that they remain quite strong in that position of 26.5
If the bulls manage to keep the price above $ 29 in the following days we could give an indication that they will not pull DOT so easily to a change in trend.
But, if the bears manage to pull the price below 26.5 usdt. We could determine that DOT could start a bearish stage.
This area is a DOT investor's favorite to buy. From February 14.
Let's go a bit to indicators.
DOT on MACD is at a negative value. Exactly -1.9. Although the value of April 25. Because tradingview time is already a new date. The bassists lose strength. Although they are not necessarily based on this.
Although the bears were losing strength at those points, they gained more strength in the following days. They are not necessarily based on loss of strength to make an investment decision.
The MACD is a good indicator, I do not deny it.
It is quite good and complete, but it also takes others into account, and always enters supports.
Here we can notice a bearish divergence in the RSI. But in terms of candles. It does not go up or down from resistance and support. That means the bears were losing steam. And that support was a good entry point. Take it into account when you see another graphic;)
It is the same at MACD.
And this is where I want to emphasize that you never base yourself on something alone.
Here we could see a triple roof. And breakdown confirmed. But then came tremendous bullish. Be careful with the patterns. Always use different scenarios.
You don't just trust the boss. Try to see different scenarios.
In addition, I did not meet the term of pullback, but the one who sees this and always says this is my chance to get rich is never missing.
Be careful with the use of patterns.
It should be added of the possible cross the moving averages of SMA50 and EMA20, if this happens, we could see a possible bearish stage
In summary the bears should pull the price below 29 usdt and if they manage to pull it below the highest demand 26.5 we could see DOT in a bearish trend reversal. But if DOT regains strength and does not fall from these 2 points. We could have a goal of 70 usdt. The same DOT can bounce off other supports farther away than $ 29.
Something negative to highlight is that since the fall of #BTC, which affected everyone. We all had losses, sadly.
Polkadot has had 9 bearish candles on the 1d chart.
Something that has not happened since December 27, 2020.
But.. Identifying supports, resistances and demand.
Once we have finished identifying all the supports, there are only 2 currently. Sadly DOT already has more resistance than support. And we could see a fall even though it sounds absurd at 20 usdt. or 25.
In the worst situation that I doubt happens, see a fall to a ridiculous demand zone. That is 5 - 10 usdt, believe it or not, many people want to buy there since the previous year.
But I doubt it will happen. It would be super weird.
But that area is still in demand, so we cannot ignore it.
Now that we have the supports and resistances, let's see the 2 possible scenarios.
Sadly though I would like to say that DOT is on the rise. BTC falls further, and my dream died.
Now not everything is USDT pair.
In Pair BTC. Dot is retesting the support where it usually bounces.
Let's see the psychological part of the bulls and bears
The bears started pulling the price from April 18.
Managing to pull it for the third time near the 26.5 USDT support. Which is pretty obvious to notice.
Giving the bulls force to pull the price higher, in an attempt to bounce. Indicating that they remain quite strong in that position of 26.5
If the bulls manage to keep the price above $ 29 in the following days we could give an indication that they will not pull DOT so easily to a change in trend.
But, if the bears manage to pull the price below 26.5 usdt. We could determine that DOT could start a bearish stage.
This area is a DOT investor's favorite to buy. From February 14.
Let's go a bit to indicators.
DOT on MACD is at a negative value. Exactly -1.9. Although the value of April 25. Because tradingview time is already a new date. The bassists lose strength. Although they are not necessarily based on this.
Although the bears were losing strength at those points, they gained more strength in the following days. They are not necessarily based on loss of strength to make an investment decision.
The MACD is a good indicator, I do not deny it.
It is quite good and complete, but it also takes others into account, and always enters supports.
Here we can notice a bearish divergence in the RSI. But in terms of candles. It does not go up or down from resistance and support. That means the bears were losing steam. And that support was a good entry point. Take it into account when you see another graphic;)
It is the same at MACD.
And this is where I want to emphasize that you never base yourself on something alone.
Here we could see a triple roof. And breakdown confirmed. But then came tremendous bullish. Be careful with the patterns. Always use different scenarios.
You don't just trust the boss. Try to see different scenarios.
In addition, I did not meet the term of pullback, but the one who sees this and always says this is my chance to get rich is never missing.
Be careful with the use of patterns.
It should be added of the possible cross the moving averages of SMA50 and EMA20, if this happens, we could see a possible bearish stage
In summary the bears should pull the price below 29 usdt and if they manage to pull it below the highest demand 26.5 we could see DOT in a bearish trend reversal. But if DOT regains strength and does not fall from these 2 points. We could have a goal of 70 usdt. The same DOT can bounce off other supports farther away than $ 29.