Hello Traders.
- Looking at DOT at 1H TF we can see clearly that buyers pushed the price higher from previous local support at 8$ , price broke S/R level on 10$ and re-tested it , it seems that a bullish flag was created
based on the price action sene, i think the price would breakout from this bullish flag towards resistance Level 12$. EM50 is acting as an dynamic resistance holding the price above level support 10$.
- if buyers failed for taking the price higher we might see a consolidation for a time on level support 10$ even a breakdown below this level , but i don't think this will be the case
Good Luck Traders
- Looking at DOT at 1H TF we can see clearly that buyers pushed the price higher from previous local support at 8$ , price broke S/R level on 10$ and re-tested it , it seems that a bullish flag was created
based on the price action sene, i think the price would breakout from this bullish flag towards resistance Level 12$. EM50 is acting as an dynamic resistance holding the price above level support 10$.
- if buyers failed for taking the price higher we might see a consolidation for a time on level support 10$ even a breakdown below this level , but i don't think this will be the case
Good Luck Traders
Trade closed: target reached