Boys and girls, Polkadot is a long-term play for me. This is my gamble against the failure of ETH 2.0. If ETH 2.0 is a flop, Polkadot might be the golden ticket to riches in 2021. Thus far, I have bought little Polkadots on every dip, and it has been one of the easiest tokens to time purchasing decisions.
Ever since the 100:1 split, we've had GREAT action on the price line, which provides us information on possible supports and resistances. That's how I've been playing this all along. Right now, if DOT bangs its head on 3.90, I'll be looking for a return to the 3.65 level. If we violate the 3.65 support line, it could be HAPPY DAYS! Why? Because the next possible support will be at the 2.95 level. Thus far, all of the Polkadot price movements have been highly predicable using these previous support turned resistance lines, along with watching the cycle of the stochastic.
At this point, I'm thinking the 2.95 opportunity might come to fruition because of a possible BTC correction, and the fact that the OBV has settled down to its lowest level which is below the point it was at the split. Plus, there is a nice volume cluster centered around the 2.95 price that will have a magnetic attraction effect if we see a big correction on Bitcoin. My strategy is to buy a few Polkadots at 3.65, and then watch closely for a bounce of support. If it bounces off that line and then settles again, the next time it might sail right through it. I've been posting videos describing this predictable action for the past month, where I go into more detail. But I'll keep a regular update on the price action as we go!
Do not make any decisions based on my wizzard-like skills. I'm not a financial advisor. Please stay safe out there, and DON'T GET REKT!
Carlton Flowers
THEE CryptoPro
Ever since the 100:1 split, we've had GREAT action on the price line, which provides us information on possible supports and resistances. That's how I've been playing this all along. Right now, if DOT bangs its head on 3.90, I'll be looking for a return to the 3.65 level. If we violate the 3.65 support line, it could be HAPPY DAYS! Why? Because the next possible support will be at the 2.95 level. Thus far, all of the Polkadot price movements have been highly predicable using these previous support turned resistance lines, along with watching the cycle of the stochastic.
At this point, I'm thinking the 2.95 opportunity might come to fruition because of a possible BTC correction, and the fact that the OBV has settled down to its lowest level which is below the point it was at the split. Plus, there is a nice volume cluster centered around the 2.95 price that will have a magnetic attraction effect if we see a big correction on Bitcoin. My strategy is to buy a few Polkadots at 3.65, and then watch closely for a bounce of support. If it bounces off that line and then settles again, the next time it might sail right through it. I've been posting videos describing this predictable action for the past month, where I go into more detail. But I'll keep a regular update on the price action as we go!
Do not make any decisions based on my wizzard-like skills. I'm not a financial advisor. Please stay safe out there, and DON'T GET REKT!
Carlton Flowers
THEE CryptoPro