CoinGape

Bullish Price Action| Stron Up-Trend| Price Discovery

Long
BINANCE:DOTUSDT   DOT / TetherUS
Points to consider,

Preluding to DOTUSDT’s chart, price action has also put in a very strong bullish volatility expansion leading to an all-time high. Similarly to LINK, reaming above current Local S/R will be indicative of strength in price action. Taking out the immediate high will progress DOT back into price discovery with a further strong expansion being probable.

Initially price action broke Daily S/R with an impulsive move that was backed with increasing volume ; this suggested a true break as follow through was evident. The volume profile remained above average with consecutive impulses, especially when the bullish order block was back tested.

As evident, the secondary expansion topped out and established a local top, an impulse sell followed suit however was bought back in a bullish manner. This again is suggestive of strength and that a true top as of current is not time-honoured. A clear volume climax with a blow-off top is resemblance will specify a temporary top in price action.

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