DOTUSD Futures ( DOTUSD3 ), H4 Potential for Bearish DropTitle: DOTUSD Futures ( DOTUSD3 ), H4 Potential for Bearish Drop
Type: Bearish Drop
Resistance: 6.992
Pivot: 6.454
Support: 5.700
Preferred case: Looking at the H4 chart, my overall bias for DOTUSD3 is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market. Expecting price to continue heading towards the support at 5.700, where the overlap support is.
Alternative scenario: Price could head back up towards the resistance at 6.992, where the previous swing high is.
Fundamentals: There are no major news.
Dotusd3
DOTUSD Futures ( DOTUSD3 ), H4 Potential for Bullish ContinuatioTitle: DOTUSD Futures ( DOTUSD3 ), H4 Potential for Bullish Continuation
Type: Bullish Continuation
Resistance: 7.206
Pivot: 6.071
Support: 5.544
Preferred case: Looking at the H4 chart, my overall bias for DOTUSD is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market. Expecting price to continue heading towards the resistance at 7.206, where the previous swing high is.
Alternative scenario: Price could head back down to retest the pivot at 6.071, where the 61.8% Fibonacci line is.
Fundamentals: There are no major news.
