DOTUSDT Dynamic Resistance|Structural S/R|Apex|Declining Volume
Evening Traders,
Second Analysis – DOTUSDT- trading with the psychology of a Descending Triangle, price is approaching its apex.
Points to consider,
- Bearish Price Action
- Structural S/R Respected
- Key Dynamic Resistance
- Oscillators Below 50
- Declining Volume
DOTUSDT’s immediate price action is bearish with consecutive lower highs under dynamic resistance. Price is being coiled into its apex where a break will be imminent; breaking key structural S/R will allow us to have a bearish bias on the market.
Both oscillators are showing weakness trading under their 50- midpoint, further downside is likely to reach oversold conditions.
The volume profile is currently declining; an influx will be highly probable as price breaks from its Apex.
Overall, in my opinion, breaking bearish will allow for a valid short with define risk. Price action is to be used upon discretion/ management of trade.
Hope this analysis helps
Thank you for following my work!
And remember,
It does not matter how slowly you go as long as you do not stop.”Confucius
Second Analysis – DOTUSDT- trading with the psychology of a Descending Triangle, price is approaching its apex.
Points to consider,
- Bearish Price Action
- Structural S/R Respected
- Key Dynamic Resistance
- Oscillators Below 50
- Declining Volume
DOTUSDT’s immediate price action is bearish with consecutive lower highs under dynamic resistance. Price is being coiled into its apex where a break will be imminent; breaking key structural S/R will allow us to have a bearish bias on the market.
Both oscillators are showing weakness trading under their 50- midpoint, further downside is likely to reach oversold conditions.
The volume profile is currently declining; an influx will be highly probable as price breaks from its Apex.
Overall, in my opinion, breaking bearish will allow for a valid short with define risk. Price action is to be used upon discretion/ management of trade.
Hope this analysis helps
Thank you for following my work!
And remember,
It does not matter how slowly you go as long as you do not stop.”Confucius