Polkadot (DOTUSD) just broke above the Falling Wedge pattern that was in effect since early 2021. This 2-year pattern has been basically dictating the pace of the current Bear Cycle but as you see on this 1W chart, it eventually ran out of room, was trading tightly within its top (Lower Highs trend-line) and bottom (Lower Lows trend-line) in the past 2 months and...
Polkadot (DOTUSD) is currently testing both the 1D MA50 (blue trend-line) and the 1D MA100 (green trend-line) as Resistance levels. Even a modest push upwards will be enough to cause a Bullish Cross formation between the two trend-lines. Last time we saw this pattern was on August 30 2021, which was half-way through the last major rally that formed the All Time...
Polkadot had a brutal rejection yesterday just below the 1D MA50 (blue trend-line). Being on a corrective wave since the November (All Time) High, the price needs to reclaim that trend-line as failure to so has brought in the past a Lower Low. The obvious comparison is May-June-July 2021. On June 03 the price failed to break above the 1D MA50 and that resulted in...
