There are multiple factors why I think, that $DOT will reach 50$ in a few weeks.
- $BTC is probably having a growth due to big dump in a recent days to about 50k$ and if we do not fixate on that level and only in this case I expect a big correction. All alts will follow the uptrend during that time
- 1D RSI is following it's own trend from which we bounced recently and I suppose during this phase we'll reach some of the next resistance levels
- We also see a hidden bullish divergence on 1D RSI
- We existed the long lasting channel, but got inside it pretty quickly
- We've recently bounced from 200 MA which is a good sign too
My projection is that we will quickly retest the trend line around 30$ (great entry, worst case scenario I am entering at 30.6-31$ on 0.618 Fib level) and than we could go up to 50$.
Targets along the way where you can fixate part of your profit:
32.7 -> 35 -> 39.5 -> 42.7 -> 50
P.S.: One last thing I want to share, that in case we touch the upper side if the channel it will confirm the expanding rising wedge and there will be a possibility going to the lower part of the formation and even exiting it with pretty massive correction. This projection correlates well with my thoughts about $BTC movement in a next couple of months.
It is not a financial advise. Do your own research. These are just my personal opinions.
Good luck.
- $BTC is probably having a growth due to big dump in a recent days to about 50k$ and if we do not fixate on that level and only in this case I expect a big correction. All alts will follow the uptrend during that time
- 1D RSI is following it's own trend from which we bounced recently and I suppose during this phase we'll reach some of the next resistance levels
- We also see a hidden bullish divergence on 1D RSI
- We existed the long lasting channel, but got inside it pretty quickly
- We've recently bounced from 200 MA which is a good sign too
My projection is that we will quickly retest the trend line around 30$ (great entry, worst case scenario I am entering at 30.6-31$ on 0.618 Fib level) and than we could go up to 50$.
Targets along the way where you can fixate part of your profit:
32.7 -> 35 -> 39.5 -> 42.7 -> 50
P.S.: One last thing I want to share, that in case we touch the upper side if the channel it will confirm the expanding rising wedge and there will be a possibility going to the lower part of the formation and even exiting it with pretty massive correction. This projection correlates well with my thoughts about $BTC movement in a next couple of months.
It is not a financial advise. Do your own research. These are just my personal opinions.
Good luck.