Updated

DOT/USDT Downward wedge Secondary trend.

Secondary trend. The price is near the dynamic support of the uptrend. A downtrend wedge has formed (secondary downtrend). Potential trend reversal zone in case of its breakthrough.

Important support/resistance zones, trend and formations shown on the chart. At the moment it is interesting to work, because of the intersection zone of the uptrend (green) and the downtrend (secondary).

Also there is a probability of breaking out stops before the reversal, as a rule, all put them under the trend line, it is important that the price does not stay under it for a long time.

DOT/USDT Main Trend. Wedge.

Note

+50%

Note

+113% The second target zone of the wedge has been reached.

Note

after taking out stops (marked earlier zone) the secondary uptrend is developing. The price is under the resistance zone (May 2021). Possible sideways movement under this resistance (breakout attempt). This is an important trend reversal or continuation zone, in a global price in a potential large uptrend channel. From the trend reversal (initial entry point, breakout of wedge resistance) +190%

Note

Further pulled the price up to the April-May distribution zone. About +230% from the wedge breakout.

Note

+244% since the trend reversal. Note that the price has been in the $44 zone for a week and has approached the important resistance zone of the historical highs (May-April).

11 11 21 Polkadot will open the first auctions of parachain slots online.

Note

After reaching the reversal level of 49.15 (pending event, yellow level) there was a reversal and the price decreased by - 56.6% to the dynamic support of the uptrend (green thick).

Thus, a potential "head & shoulders" formation was formed in the secondary trend, the price is in the "neck" zone (the formation confirmation only by fixing below the "neck") and at the same time in the zone of dynamic uptrend support (the channel potential is impressive).

It was cleverly designed to divide traders into two camps and to create uncertainty. There is a huge probability of "driving a round robin" and knocking out stops on both sides. It is rational, for obvious reasons, not to work on the breakout, and only a pullback after the breakout in any direction from this important zone, which decides the further trend development.

Note

The timeframe on the chart is 1 week.
To show the main trend of this coin. The price broke the level of the neck of the figure "head and shoulders", reached at the moment the level of $17. Although the price is under the uptrend line (green), but it is worth noting that after the plum 17 01 has been in the sideways zone of 17 for 2 months. Now there is an attempt of a local breakthrough of the descending secondary trend (red).

Note

Head and Shoulders Targets Achieved -50% The price has dropped significantly lower, almost to the mirror resistance level of the previous accumulation (now support). In the secondary downtrend, a formation similar to a downtrend wedge is formed. Key price reversal zones are shown on the chart. A wave inside the wedge and then a decline for its complete formation is possible (not necessarily). The price is now very close to the average price of the main accumulation zone 6-4.

Also you should understand that most investors who entered the project in the middle of 2017 on this pumping have merged because the profits were substantial (but, they waited (froze money) for 4 years. The investment was in ETH which increased in value dozens of times without "freezing in obscurity" money for many years.

Who benefited more “holders” of ETH or “holders” of DOT is hard to say. But, I know for a fact, the “non holders” (traders) of ETH made the biggest profit (we are not talking about the crowd).

Note

C break of the local wedge +50%. Rollback under the market correction to the lower zone of the channel. The sidewall with the identical step is formed. In case of holding the support zone of $6-7 may form a local double bottom (a compound part of the channel). Percentage to the local levels shown on the chart.

Note

Local work in a horizontal channel. The price fell to the support level of the horizontal channel (confirmation zone of the potential double bottom) $6 by -15%. At the moment, it is in a local downtrend in a clamp.

SpartaBTC

✅ Telegram. Finance + Trading: t.me/SpartaBTC_1318
✅ Telegram. Сrypto trading only: t.me/SpartaBTC_tradingview
✅ Instagram: instagram.com/spartabtc_1318
✅ YouTube (Rus): goo.su/vpRzRa2

Also on:

Related publications

DOT / usd (Polkadot) Main trend. A cup. The loudest ICO

by SpartaBTC

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

SpartaBTC

✅ Telegram. Finance + Trading: t.me/SpartaBTC_1318
✅ Telegram. Сrypto trading only: t.me/SpartaBTC_tradingview
✅ Instagram: instagram.com/spartabtc_1318
✅ YouTube (Rus): goo.su/vpRzRa2