Polkadot(DOT): Rising Channel Is Getting Weaker

A rising channel is spotted on the DOT coin, indicating an uptrend in the short term. However, the price is currently showing an early weakness, breaking the middle line of Bollinger Bands Path. We have two possible movements here, but the end destination is the same for both of them!

First scenario: We see a price to move towards upper "liquidity zone," from where we will be looking for a downward movement

Second scenario: Current weakness will continue to break that rising channel, resulting in a n early downward movement towards $5.03 or even $4.81

Swallow Team

Ghi chú

A breakout from this liquidity zone has happened with a confirmed re-test as well! If we hold this zone on a Daily Timeframe as well, we will see some further movement to upper zones

Ghi chú

After the last update, price went for a nice 3% market price movement, but currently we see that price is going most likely towards our broken trend line, which will be tested.

Ghi chú

As expected, Price did a nice re-test that was very quick and went straight to reclaim the upper zones!

I'm currently looking at a nice weakness spot in the upper zones, so it might be nice to move liquidity to the lower zones soon!

SwallowAcademy

🚨Years on charts build the habit of sensing psychological market direction. So far working :)

Telegram: t.me/+fiEDSn7M9pJkODA0

Ngoài ra, trên:

Thông báo miễn trừ trách nhiệm

Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.

SwallowAcademy

🚨Years on charts build the habit of sensing psychological market direction. So far working :)

Telegram: t.me/+fiEDSn7M9pJkODA0

Ngoài ra, trên: