DOTUSD - Update to Long-Term Channel with Battling Arcs
In my last analysis, I said that if DOT breaks back into the smaller bearish arc after breaking out and then retesting, it would invalidate my target of $95-120 by year's end.
That invalidation happened in the last dip, and today we see a possible second break to the upside of the smaller bearish arc, putting the original bullish scenario back into play.
I extended the parabolic arc out a bit, and both scenarios are still in play. I would look for $50+ as a confirmation of the upside target, and a failure to regain $50 in November as a confirmation to the downside.
My bias is still bullish on the crypto market and DOT in particular. I'm looking for a break of $50 by the end of the month and a fast move upwards towards $95+ thereafter.
Good luck and enjoy.
That invalidation happened in the last dip, and today we see a possible second break to the upside of the smaller bearish arc, putting the original bullish scenario back into play.
I extended the parabolic arc out a bit, and both scenarios are still in play. I would look for $50+ as a confirmation of the upside target, and a failure to regain $50 in November as a confirmation to the downside.
My bias is still bullish on the crypto market and DOT in particular. I'm looking for a break of $50 by the end of the month and a fast move upwards towards $95+ thereafter.
Good luck and enjoy.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.