I recently published my thoughts on DOT and wanted to put together some additional information on my short term and long term forecasts through the 1st half of 2022.
I believe DOT is in need of a major correction to reset the price action. A true bottoming out will shake out the manic buying from 2021.
In the short term there should be a rise to the approximate $40 value. However, this will quickly retrace. A rally will be attempted and the mid $30s will be explored. However, the rejection at $40 will hurt the momentum of any short term growth.
The breakout happens once DOT breaks down to $15.50. At this point the rally begins.
Notes on the graph.
I believe DOT is in need of a major correction to reset the price action. A true bottoming out will shake out the manic buying from 2021.
In the short term there should be a rise to the approximate $40 value. However, this will quickly retrace. A rally will be attempted and the mid $30s will be explored. However, the rejection at $40 will hurt the momentum of any short term growth.
The breakout happens once DOT breaks down to $15.50. At this point the rally begins.
Notes on the graph.