For the last few days wild predictions have been flooding the crypto market regarding DOT with unbelievable TP levels, even if some may come true we can see that we are still beneath the kumo, furthermore in the btc pairing we can see a clash with the kumo , The TOTAL3 market, shows it lingering to critical support below the 200EMA, a reverseasl may be imminent but so far it hasn't happened yet, also the whole chart looks like a giant HnS mixed with a bearish triple top, which from the present point can be the just the beginning of a huge drop
If we look at the Stock to flow model, we can also spot that we are changing from green to cyan showing that the BTC is cooling its cycle, i think maybe everyone is just way too optimist for the current situation since in the 3dtimeframe volume has just crossed below the kumo. we are still bearish with the RSI, beatish on MACD in the BTC pair in higher timeframes, and I wouldnt be the least surprised if we went up a bit to test resistance proceeded by a massive dump. or a long sideways movement trending downwatds before we cross upwards. if we do dump the next stop is at 13 USDT.
Either Way its only bullish once it crosses the kumo on the higher TF. I personally will start looking for entries then at lower time frames.
Trade carefully
Short term:Bearish
Long term: Neutral
Disclaimer: This is a personal interpretation of the market charts, and is not intended in any way to sustain or provide financial advice.
If we look at the Stock to flow model, we can also spot that we are changing from green to cyan showing that the BTC is cooling its cycle, i think maybe everyone is just way too optimist for the current situation since in the 3dtimeframe volume has just crossed below the kumo. we are still bearish with the RSI, beatish on MACD in the BTC pair in higher timeframes, and I wouldnt be the least surprised if we went up a bit to test resistance proceeded by a massive dump. or a long sideways movement trending downwatds before we cross upwards. if we do dump the next stop is at 13 USDT.
Either Way its only bullish once it crosses the kumo on the higher TF. I personally will start looking for entries then at lower time frames.
Trade carefully
Short term:Bearish
Long term: Neutral
Disclaimer: This is a personal interpretation of the market charts, and is not intended in any way to sustain or provide financial advice.