the price is creating a falling wedge after a bounce on the weekly support in the 6.1$ area. After that, the market started with a sequence of Lower Lows and Lower Highs, a typic downtrend movement.
Recently the price had a new breakout from the previous Lower Low, and retested the dynamic support of the Falling Wedge.
How to approach it?
The price could create a new LH, above the 5$ area in order to create a last LL on the weekly support to brave the liquidity. The weekly support is a key level for DOT, where the previous bull run started.
Otherwise, If the price is going to create a breakout and new HH, we could apply MTB in order to follow the reverse movement
Recently the price had a new breakout from the previous Lower Low, and retested the dynamic support of the Falling Wedge.
How to approach it?
The price could create a new LH, above the 5$ area in order to create a last LL on the weekly support to brave the liquidity. The weekly support is a key level for DOT, where the previous bull run started.
Otherwise, If the price is going to create a breakout and new HH, we could apply MTB in order to follow the reverse movement
Note
10% since my ideaNow the price is going to retest the resistance
Let's see how the daily candle is going to close
Note
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Related publications
Disclaimer
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.