PolkaDot on the 4 hour chart is a Rising Wedge which has broken out up to 2 times but without success.
Around the $29 dollar zone, the Bears have reversed the trend and we have entered a Descending Broadening Wedge.
Divergence has been spotted leading to the current upswing, but I'm apprehensive as the previous lower high didn't look very strong.
should we break above the bulls will make another attempt to break through the $29 if the bulls lose ground then we will test the $23-22 again.
Keep in mind that if BTC were to continue the downward trend, PolkaDot could also fall further.
Keep calm, trade safe and manage your risk.
(Disclaimer: this is not financial advice)
Around the $29 dollar zone, the Bears have reversed the trend and we have entered a Descending Broadening Wedge.
Divergence has been spotted leading to the current upswing, but I'm apprehensive as the previous lower high didn't look very strong.
should we break above the bulls will make another attempt to break through the $29 if the bulls lose ground then we will test the $23-22 again.
Keep in mind that if BTC were to continue the downward trend, PolkaDot could also fall further.
Keep calm, trade safe and manage your risk.
(Disclaimer: this is not financial advice)
Tims.Technische.Analyse by TIMTIBBO