Hello and welcome to this quick market analysis
Make sure to hit the like button in the end if you agree with my insight
With the current structure on USD pair, it is safe to say that the bottom for Polkadot is in at $37, and now if you look at the BTC pair you can see that we broke below the triangle BUT I forecast that this break was a bull trap.
In the near future I would like to see DOTBTC to trade inside this triangle once again and aim for the horizontal resistance, locating at 7800 satoshis.
The bullish divergence on RSI, indicates that the bearish momentum is near to an end.
If you check the USDT.D you can see for yourself that market is gaining momentum again, so I don’t want to miss any chances to catch the impulse moves on such coins and tokens like $DOT.
My target for DOTUSD will remain at $60 and with current fundamentals on this space I think we will get there in near future.( late November)
ANY WEEKLY CLOSE BELOW $37 WILL INVALIDATE MY FORECAST
Stay safe, Stay profitable and don’t forget to hit the like button ;)
Make sure to hit the like button in the end if you agree with my insight
With the current structure on USD pair, it is safe to say that the bottom for Polkadot is in at $37, and now if you look at the BTC pair you can see that we broke below the triangle BUT I forecast that this break was a bull trap.
In the near future I would like to see DOTBTC to trade inside this triangle once again and aim for the horizontal resistance, locating at 7800 satoshis.
The bullish divergence on RSI, indicates that the bearish momentum is near to an end.
If you check the USDT.D you can see for yourself that market is gaining momentum again, so I don’t want to miss any chances to catch the impulse moves on such coins and tokens like $DOT.
My target for DOTUSD will remain at $60 and with current fundamentals on this space I think we will get there in near future.( late November)
ANY WEEKLY CLOSE BELOW $37 WILL INVALIDATE MY FORECAST
Stay safe, Stay profitable and don’t forget to hit the like button ;)