Been looking into DOT a good amount the past few days and have noticed it's really nice to trade and with the bullish momentum recently it's been a good market indicator of direction and because it is a smaller coin than the usual BTC/ETH it is more volatile!
I know that is risk but it is charting really nice and catching it right can lead to excellent gains,
I am currently looking at this rising channel which we have tested several times this morning but it is now looking like a breakdown is imminent, I have marked the possible breakdown target. this looks extremely bearish but I think we would look for a potential double bottom on the bigger time frames singling the end of this small dump.
we could break to the upside, it wouldn't surprise me for price to hit everyones SL and swing fail to the downside before a quick break back up, I have marked the possible price target in that case.
I am following DOT with all of my current trades as it seems to be a clearer indication of where the market is going and the gains are better when you time it right.
I know that is risk but it is charting really nice and catching it right can lead to excellent gains,
I am currently looking at this rising channel which we have tested several times this morning but it is now looking like a breakdown is imminent, I have marked the possible breakdown target. this looks extremely bearish but I think we would look for a potential double bottom on the bigger time frames singling the end of this small dump.
we could break to the upside, it wouldn't surprise me for price to hit everyones SL and swing fail to the downside before a quick break back up, I have marked the possible price target in that case.
I am following DOT with all of my current trades as it seems to be a clearer indication of where the market is going and the gains are better when you time it right.
