DOT is Possibly forming a Head and Shoulder Pattern.

Hello every one
DOT / TETHERUS

DOT is in a Big Head and Shoulder Pattern. But The Right shoulder has not been Created yet! The Strong Support For DOT Right Now is around 25$ which is also The Neckline for The Head and Shoulder Pattern. There is a Resistance around 39$ as well. Some Bullish Signs are Visible on The Chart. For Example PARABOLIC SAR Shows Some Dots Under the Price which means The Price is Getting Ready to Go Upward! There is also a Regular Bullish Divergence (+RD) on MACD & we can see a Bullish Cross is gonna Happen on MACD's lines as well!(Blue Line which is MACD line is gonna Cross The Red Line which is the Signal Line). all these Evidences Suggest That The Next Shoulder of this Head and Shoulder Pattern will be Created and After That the odds Of breaking The Neckline and moving Downward For DOT is Pretty High!

Summary:
-DOT is Trying To form a Big head and Shoulder Pattern
-Support at 25$
-Resistance at 39$
-Right Shoulder has not been Created yet
-Parabolic SAR & MACD Suggest the Creation of The Right Shoulder Is Possible
-No Break out From The Head and Shoulder yet, But It will be bearish.

🔴This is only an idea and not a financial advise ( NFA )🔴

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Have a nice day and Good luck