is DOT in a H&S? I'm not sure

The price chart really looks like an H&S, the RSI and OBV show a decline (bearish DIV) and especially RSI didn't follow the price surge of the head. However the volume pattern should be different. To be an undeniable H&S we should have a volume peak either at the peak of the left shoulder or at the first test of the neckline while head and right shoulder should present a declining volume. This is not the case.

https://profitandstocks.com/wp-content/uploads/2018/09/Head-and-Shoulder.jpg

However, if the allegedly right shoulder will breakdown the neckline with a surge of the volume this will act as an H&S even if it's not how the books say it should be. In any case, as it is now, it's a bearish pattern.

In case of dumping the bounce should happen around 4.7 USDT but it could be a bit over or lower it. The reason I'm not sure is that retail trading suggest 4.5 and SMT suggest 4.86. Just don't FOMO now.

Good luck

تعليق:

As I said, even if it didn't have all the characteristics of a H&S according with the TA rules it looked bearish anyway and so it's behaving. Moreover, if it acts as an H&S for me it's an H&S. Check the surge of volume with that candle I indicated.

Currently price is being absorbed, let's see what happens