Dot looks like it's breaking down for its final leg of the correction.This is a B wave so it could always potentially extend higher, but for me personally this is a great area to be looking for short entries.
If you know of PolkaDot then you understand that there is a extreme bullish sentiment among the crypto community.
This is going to keep moving and begin a price exploration. As of now, I can say there is, more than likely, a 17% trade to be had from this point.
Good luck trading!
This is not financial advice.
Polkadot becomes the fifth-largest cryptocurrency after toppling Chainlink (LINK).
DOT/USD bulls are looking forward to breakout above the ascending channel.
Polkadot has grown massively in the last two months to the extent of displacing much older coins from top positions in regard to market capitalization. Over the weekend, the token surged above the...
Pretty confident in what is playing out here.
A trader could buy now and ride it up 16%, as opposed to, waiting for it to breakout from the ascending triangle.
There is a nice little equilateral triangle playing out on the 30 min. It will retest the larger ascending triangle on the 4 hour and chances are it will go through and tap the 1/1 on the Gann.
That's...
But it’s not looking too shabby.
My lines on the chart are Gann Fan lines and represent points of resistance and support. Along with this there is the ascending triangle pattern drawn in blue.
My earlier chart showed the red curved lines as the inverted cup and handle formation. (see link)
The volume averaged out in the triangle is a bit higher in the peaks...
Polkadot bulls are nurturing a potential breakout after spiking above a short term triangle pattern.
DOT/USD drastic price action is delayed by the resistance at the 50 SMA.
Polkadot broke down from the ascending channel, discussed last week. Luckily, support at $4.00 came in handy, preventing acute declines from taking over. A reversal, therefore, ensued...
It looks like an Adam & Eve is forming and if it breaks the neckline at $4.00 chances are this upside down cup plays out. If it does, I would think the whole crypto market will go down to.
Popping?
The difficulty here comes when one considers that we do not have the type of data that we have at our disposal with other cryptocurrencies that have charts going back years. So, to say to what extent DOT is bound to the move(s) of the market is difficult. To say what direction the RSI will turn next is also difficult, but I put forth the idea that the RSI (at the...
