Back in June in proposed a long trade on DOT weakness, whose first targets were roughly 17$ and 25$, to be evaluated within 3-6 months.
DOT proved to move much slower than i originally expected, both ways, mainly due to markets uncertainty.
Yet scenario is basically unchanged to me, the log chart above is still self-explanatory.
I do think such targets will be ultimately fulfilled, despite likely requiring more time.
Given that i'm still ready to double down on any further short term weakness preceeding the wedge breakout, as per original hyphotesis.
While short term scenario is pretty murky and while a further dip MAY play out (trapping some shorts), i'd still expect a substantial move roughly by the end of year / first half of January.
Hence within the aforementioned 6 months timeframe.
In such case 9-10$ is the closest meaningful area to be monitored.
That's what DOTBTC further suggests:
As usual, DYOR.
DOT proved to move much slower than i originally expected, both ways, mainly due to markets uncertainty.
Yet scenario is basically unchanged to me, the log chart above is still self-explanatory.
I do think such targets will be ultimately fulfilled, despite likely requiring more time.
Given that i'm still ready to double down on any further short term weakness preceeding the wedge breakout, as per original hyphotesis.
While short term scenario is pretty murky and while a further dip MAY play out (trapping some shorts), i'd still expect a substantial move roughly by the end of year / first half of January.
Hence within the aforementioned 6 months timeframe.
In such case 9-10$ is the closest meaningful area to be monitored.
That's what DOTBTC further suggests:
As usual, DYOR.
Trade active:
Lot bought @5,38$
Comment:
Another lot bought @4,52$
Comment:
Looks like capitulation is unfolding, watch for volume.
Comment:
TD count 9 on both W and 2W.
Minor trendline breakout on D.
Whenever BTC/ETH will take a breath DOT (and many alts) will bounce substantially.
Minor trendline breakout on D.
Whenever BTC/ETH will take a breath DOT (and many alts) will bounce substantially.
Comment:
Watch resistance.
Comment:
Call me mad, but i still think that 13-22$ area is pretty likely to be achieved.
Possibly within 2023, albeit it's moving very low atm.
Despite some likely drawback i think it will gain some traction and speed in the upcoming months.
Possibly within 2023, albeit it's moving very low atm.
Despite some likely drawback i think it will gain some traction and speed in the upcoming months.
Watch it.