MATRIXchartings

Dot forming bearish pattern

KUCOIN:DOTUSDT   Polkadot / Tether
We can see a clear rejection in the daily chart at the resistance point ( 5.5). A shooting start candle formation can be seen which is obviously a reversal pattern and if we inspect the history it can formed shooting star patterns twice and the trend had reversed.

Placing buy orders at first support 4.85 and 4.5 will be nice. In my opinion it will get bounce from first support itself. Dot is a safe coin to trade so if it come to any of these zones don't hesitate to accumulate.

What's your view on Dot?

Regards,

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