Here’s an observation and by no means a crystal ball.
DOT seems to be getting rejected by the 20 Day Moving Average. It is also has a good track record of respecting the FIB circles.
Looks like it could either trade sideways around 4.19 (retracement line 1) or we could see a further drop to to around 3.60 (retracement line 2).
Either way, it looks like a big...
Dot needs to hold above the white line. If it does which I believe it should we should see 4.91 in the short term. Then from there we can make our way back up to over 6
Use a stop
Polkadot (DOT). Although it is a relatively new project, its pace of development is simply off the charts.
In a short period of time, two private token sales took place, 100 times denominated due to the great hype, and even the founder of Polkadot condemned Binance and Kraken for hasty listing of DOT tokens.
Increased news hype allowed DOT to go up in price 4...
So dot broke up which is what I expect. I have now set a stop in profit at 4.60 but I belive it will break though resistance(red lines) and start making its way up to areas of interest where I may take profit(green lines)
Polkadot has broken out of triangle formation, as the downtrend line has been broken to the upside and currently is testing the upper level of resistance area from 4.50 to 4.63$.
I expect Polkadot to hit $5 today or tommorow, which is TP1, 9% from current price.
TP2 is $5.33, 15%.
Good luck with this trade!
Tibor
