Evening Traders,
Second Analysis – DOTUSDT- trading with the psychology of a Descending Triangle, price is approaching its apex.
Points to consider,
- Bearish Price Action
- Structural S/R Respected
- Key Dynamic Resistance
- Oscillators Below 50
- Declining Volume
DOTUSDT’s immediate price action is bearish with consecutive lower highs under dynamic resistance. Price is being coiled into its apex where a break will be imminent; breaking key structural S/R will allow us to have a bearish bias on the market.
Both oscillators are showing weakness trading under their 50- midpoint, further downside is likely to reach oversold conditions.
The volume profile is currently declining; an influx will be highly probable as price breaks from its Apex.
Overall, in my opinion, breaking bearish will allow for a valid short with define risk. Price action is to be used upon discretion/ management of trade.
Hope this analysis helps
Thank you for following my work!
And remember,
It does not matter how slowly you go as long as you do not stop.”Confucius
Second Analysis – DOTUSDT- trading with the psychology of a Descending Triangle, price is approaching its apex.
Points to consider,
- Bearish Price Action
- Structural S/R Respected
- Key Dynamic Resistance
- Oscillators Below 50
- Declining Volume
DOTUSDT’s immediate price action is bearish with consecutive lower highs under dynamic resistance. Price is being coiled into its apex where a break will be imminent; breaking key structural S/R will allow us to have a bearish bias on the market.
Both oscillators are showing weakness trading under their 50- midpoint, further downside is likely to reach oversold conditions.
The volume profile is currently declining; an influx will be highly probable as price breaks from its Apex.
Overall, in my opinion, breaking bearish will allow for a valid short with define risk. Price action is to be used upon discretion/ management of trade.
Hope this analysis helps
Thank you for following my work!
And remember,
It does not matter how slowly you go as long as you do not stop.”Confucius
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Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.
Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.