Polkadot (DOT) Is About To Take Off Now
DOT is another great coin with great potential. I have been trading this coin for a while now.
With the previous altcoin run, DOT made a run of around 166% to its new ATH.
Now it's going for new highs again.
DOT has been consolidating making a symmetrical triangle which it broke out of yesterday.
Also looks like price retested that trend perfectly on lower TF and is testing resistance. Won't take long to break this zone imo!
Look at how perfect the retest is on 1H, taking volume in consideration:
I've also noticed that DOT is creating somewhat the same scenario as before this big move up.
It's not exactly the same but looking at price action and past data you can tell a similar big move is highly likely.
I made a ghost feed of bars of how I expect price to go. (I partially based this of the previous run and current price action.)
It won't go as perfect but it's a nice indication. ;)
Targets:
$50 (+30%) is certainly possible in the next coming days, once that resistance is broken (and retested) I expect price to surge quicker.
If DOT gains as much as its leg up which would happen according to correct price action, it would surge another 166% towards $100.
That's also a round number and psychological level of resistance.
As I mentioned in previous ideas, most altcoins are making the same pattern(s). BNB broke out of a very similar pattern and is currently taking off quickly:
With the previous altcoin run, DOT made a run of around 166% to its new ATH.
Now it's going for new highs again.
DOT has been consolidating making a symmetrical triangle which it broke out of yesterday.
Also looks like price retested that trend perfectly on lower TF and is testing resistance. Won't take long to break this zone imo!
Look at how perfect the retest is on 1H, taking volume in consideration:
I've also noticed that DOT is creating somewhat the same scenario as before this big move up.
It's not exactly the same but looking at price action and past data you can tell a similar big move is highly likely.
I made a ghost feed of bars of how I expect price to go. (I partially based this of the previous run and current price action.)
It won't go as perfect but it's a nice indication. ;)
Targets:
$50 (+30%) is certainly possible in the next coming days, once that resistance is broken (and retested) I expect price to surge quicker.
If DOT gains as much as its leg up which would happen according to correct price action, it would surge another 166% towards $100.
That's also a round number and psychological level of resistance.
As I mentioned in previous ideas, most altcoins are making the same pattern(s). BNB broke out of a very similar pattern and is currently taking off quickly:
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