Just a very quick one for now - only had a brief look but was asked for my view so copied my comment here for anyone interested.
In my view we are likely to see a break out to the upside as the BBs in the 12h expand pursuant to the Blue LSMA closing above 50.
Just had a quick look and in most timeframes from scalping through short term to near term DOT showing bullish sentiment - with Green EMA higher than Energy in all TFs. Bit of a Bollinger Band squeeze in short term TFs but opening up from lower TFs and cascading up. In the 12h the BBs are still contracted, however if you notice how in lower TFs as the Blue LSMA turns back up the BBs expand, the Blue LSMA in the 12h has crossed above 50 and we are likely to see the BBs expand, also the Red RSI has crossed bullish above the Blue LSMA in the 12h as they both cross above 50, this is very bullish. If we can see this propagate into the higher timeframes that would be very good. Because the Red RSI & Blue LSMA have closed above 50, we are likely to see the price action sit with the candle bodies predominantly between the Aqua/Orange upper BBs and possibly wicking up to the Red upper. However, if as expected the BBs expand, we can see the price action accelerate to the upside as it remains between the Aqua/Orange upper. I am concentrating on Technicals here - but from a fundamental point of view considering the level of staking, although there are obviously other fundamentals at play too - we could consider a comparison with Cardano in that the mid to long term timeframes display significant upward pressure, so although we can see short term dips, the bulls are very strong. It is difficult to project much beyond the 4d TF with DOT as there is so little history...
I'll try and update as I get a chance...
In my view we are likely to see a break out to the upside as the BBs in the 12h expand pursuant to the Blue LSMA closing above 50.
Just had a quick look and in most timeframes from scalping through short term to near term DOT showing bullish sentiment - with Green EMA higher than Energy in all TFs. Bit of a Bollinger Band squeeze in short term TFs but opening up from lower TFs and cascading up. In the 12h the BBs are still contracted, however if you notice how in lower TFs as the Blue LSMA turns back up the BBs expand, the Blue LSMA in the 12h has crossed above 50 and we are likely to see the BBs expand, also the Red RSI has crossed bullish above the Blue LSMA in the 12h as they both cross above 50, this is very bullish. If we can see this propagate into the higher timeframes that would be very good. Because the Red RSI & Blue LSMA have closed above 50, we are likely to see the price action sit with the candle bodies predominantly between the Aqua/Orange upper BBs and possibly wicking up to the Red upper. However, if as expected the BBs expand, we can see the price action accelerate to the upside as it remains between the Aqua/Orange upper. I am concentrating on Technicals here - but from a fundamental point of view considering the level of staking, although there are obviously other fundamentals at play too - we could consider a comparison with Cardano in that the mid to long term timeframes display significant upward pressure, so although we can see short term dips, the bulls are very strong. It is difficult to project much beyond the 4d TF with DOT as there is so little history...
I'll try and update as I get a chance...
In the 90m we have closed with the Red RSI & Blue LSMA making contact with the Green EMA as it rises but it is turning down slightly - consistent with what we see in the 3h the Energy has just crossed (but not yet closed) above 50, the Blue LSMA is just turning up again. This is all bullish. We do however want to see the Green EMA turn back up in the 3h as the Red RSI & Blue LSMA have made contact as it falls indicating the possibility of a period of downward pressure. But this needs to be considered in context:
1. Downward pressure does not automatically confer significant downward price action - sideways at best, downwards at worst.
2. Considering the level of the Red RSI, even if the Green EMA does fall below 50, as long as the Red RSI remains above 80, we are not likely to see a significant price drop. However if the Red RSI crosses below 80 too, we could see the price action fall to the Bollinger Band basis (currently $37.26 but rising)
3. the Energy in the 6h is still above 80 and the Blue LSMA & Red RSI are around the 80 level - we are not likely to see a significant drop until the Energy in the 6h approaches level 50.
4. The 12h still looking good with the Green EMA above the Energy in all this group and the Red RSI & Blue LSMA still rising - we can see the Bollinger Bands beginning to expand in this TF.
In the near term group of TFs we have to be slightly cautious that the Energy is higher than the Green EMA in the daily albeit only marginally. However the Red RSI and Blue LSMA have both turned up and as a result we are likely to see the BBs expand if we continue. In the 2d the BBs are still contracting, however the Red RSI and the Blue LSMA have both closed making contact with the Green EMA as it rises, as a result the Energy has crossed above level 50, furthermore they have both begun to turn up and the Red RSI has crossed bullish above the Blue LSMA. If the Blue LSMA in the 2d can continue up, we can see the BBs expand in this TF too. What we see in these timeframes does not preclude local dips in the lower TFs.
In summary:
We may see some sideways action or even a dip short term but in my opinion we are likely to see a continuation of upward pressure which - if the Blue LSMA does continue to turn up should translate into upward price action.