DOTUSD - High risk.
Red line- major resistance
blue line support (low target if short)
W pattern shown
Green line high target if long and maybe a higher move from there.
I've noticed high demand for dot tokens and no supply, but its not just dot. In matter of fact almost everycrypto is on low supply high demand , yet prices of these alts are not moving,my guess is people placed their orders above or below certain price leves , thus not affecting the market price yet also probably because BTC faced the prehistorical 2013 resistance support line around 60k(still resistance for now) , which should be now around 65k.
almost every crypto right now has bullish signs , W patterns, Inversed H and S yet nothing is really moving - the reason in my opinion is -
people margined their positions- talking about min 10x margin of their capital on a asset, with that being some of them shorting it - supplying the market thus price goes down or the opposite- they bought and have put a high order above the resistance line so that they can get a more clear less risk profit .
(the no supply idea came to me yesterday, because alot of cryptos when trying to margin either long or short you would get a pop out message - try again later no dots right now (for example) .
My position is neutral i will wait for confirmation and see.
I also think this simple chart applies to most cryptos .
not financial advice just bananas ktnxbye.
blue line support (low target if short)
W pattern shown
Green line high target if long and maybe a higher move from there.
I've noticed high demand for dot tokens and no supply, but its not just dot. In matter of fact almost everycrypto is on low supply high demand , yet prices of these alts are not moving,my guess is people placed their orders above or below certain price leves , thus not affecting the market price yet also probably because BTC faced the prehistorical 2013 resistance support line around 60k(still resistance for now) , which should be now around 65k.
almost every crypto right now has bullish signs , W patterns, Inversed H and S yet nothing is really moving - the reason in my opinion is -
people margined their positions- talking about min 10x margin of their capital on a asset, with that being some of them shorting it - supplying the market thus price goes down or the opposite- they bought and have put a high order above the resistance line so that they can get a more clear less risk profit .
(the no supply idea came to me yesterday, because alot of cryptos when trying to margin either long or short you would get a pop out message - try again later no dots right now (for example) .
My position is neutral i will wait for confirmation and see.
I also think this simple chart applies to most cryptos .
not financial advice just bananas ktnxbye.
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