DOTUSD - Still Early to get in for recovery rally Dot is still currently accumulating inside an ascending triangle.
It needs to push up, and establish support above $16.44 - do a S/R flip there, which it probably will.
Then there is the big downtrend (in red) and also resistance at $20.00 (in yellow.) I would say that would probably be a good first profit taking area.
If we can do a Support/Resistance flip there, all should be good to go to finish a sizable recovery rally. 30-36$ looks quite feasible, and I will post updates if I see any confluence developing as I look for targets.
So I say take your position within this ascending triangle, or wait for confirmation of a S/R flip above $16.44. Still early for this one if you ask me.
Thanks!