A quick look at #Polkadot (#DOTUSDT, #Binance, 4HR):
If you want to read more about Polkadot on CoinMarketCap, click here.
What do you think?
Still learning here, so any constructive feedback and positive vibes to improve my analysis are welcome.
But if you enjoy my chart, please like, comment or follow me. :)
Thank you and Happy trading!
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Needless to say, this is not financial advice!
- Price broke the upper resistance of the pennant pattern earlier today, April 17, hitting its ATH at $48.36.
- Since then, the 1HR chart shows what to me seems to be a confirmation. I opened a position at $44.63.
- If DOT manages to flip R1 into support, we can try to reach TP1. If it does not hold, price might go back down to S1 or to the EMA200/S2.
If you want to read more about Polkadot on CoinMarketCap, click here.
What do you think?
Still learning here, so any constructive feedback and positive vibes to improve my analysis are welcome.
But if you enjoy my chart, please like, comment or follow me. :)
Thank you and Happy trading!
------------------------------------------------------
Needless to say, this is not financial advice!
Trade closed: stop reached:
I label this as closed because we reached the stop loss of the initial setup. Now, I will wait to see if another setup comes along. However, taking a step back to zoom out from the chart, I noticed that DOT remained in the channel that started on February 20. During the drop, price found resistance at and confirmed the $35 level. If the bottom of the channel holds, it could be a good entry point to reach TP1. If not, the next levels are at $28 and $25.
