As you can see, $DOTUSDT has formed a Head and shoulders and is now testing through the FIB Retracement lines.
I placed my Entry at 20.12 where the 0.786 FIB Retracement line also took place. When you look in the lower timeframes, you can see, that $DOTUSDT has tested the 0.786 FIB Retracement line once and is now testing it again. Also the fact that $DOTUSDT is currently in a Channel up which is also an Indicator for a bearish momentum.
I placed my SL at around 23.10 because it was the support Line from the lows from the right shoulder.
The target is at around 10.45 because that was the start of the Rallye.
Let me know if you made profit!
I placed my Entry at 20.12 where the 0.786 FIB Retracement line also took place. When you look in the lower timeframes, you can see, that $DOTUSDT has tested the 0.786 FIB Retracement line once and is now testing it again. Also the fact that $DOTUSDT is currently in a Channel up which is also an Indicator for a bearish momentum.
I placed my SL at around 23.10 because it was the support Line from the lows from the right shoulder.
The target is at around 10.45 because that was the start of the Rallye.
Let me know if you made profit!