Market Analysis:
DOT is holding a higher timeframe range high as support, forming a double bottom pattern, indicating potential readiness for an upward move, contingent upon overall market stability.
Trade Setup:
Entry: $6.8 - $7.
Take Profit: $8 or next resistance around $9.5.
Stop Loss: $5.7.
Risk Management:
Utilize a stop loss at $5.7 to mitigate potential losses.
๐ Trade Strategy Rationale:
Anticipate a bullish move in DOT given the formation of a double bottom pattern and support at a higher timeframe range high.
๐๐ก Stay alert for market stability and DOT's price action! #DOTTrading #CryptoAnalysis ๐๐
DOT is holding a higher timeframe range high as support, forming a double bottom pattern, indicating potential readiness for an upward move, contingent upon overall market stability.
Trade Setup:
Entry: $6.8 - $7.
Take Profit: $8 or next resistance around $9.5.
Stop Loss: $5.7.
Risk Management:
Utilize a stop loss at $5.7 to mitigate potential losses.
๐ Trade Strategy Rationale:
Anticipate a bullish move in DOT given the formation of a double bottom pattern and support at a higher timeframe range high.
๐๐ก Stay alert for market stability and DOT's price action! #DOTTrading #CryptoAnalysis ๐๐