The Necessities:
We’re in a powerful uptrend since low in July. Making increased highs and better lows. Buying and selling above the 200SMMA.
Since August the 21SMMa crossed the 50SMMA and is rising the hole repeatedly. Trendline is robust help.
After consolidating within the second half of October, DOT reached an ATH on (*21*)01 /11 ($51.6)!
Nevertheless the RSI is 3 factors factors decrease throughout the ATH than the newest excessive of 46.4 —> which might sign a development reversal, a RETRACEMENT earlier than it goes parabolic (200+ ??).
To substantiate this retracement, I related the swing-low finish of September with the swing-excessive ( ATH ).
This swing-low initiated the newest uptrend, breaking by way of MAJOR resistances from earlier 2021 and mid September!
It additionally bounced off the 50SMMA after retesting it as help twice.
The Concepts:
Prediction 1: the worth drops to $45 (earlier resistance, now help) because of crypto market generally shifting up and BTC anticipated to rally in November. Bounces off from there to new ATH . This might have help from the trend line , which is correct as help since finish of September.
Prediction 2: the worth drops to $38. The foremost resistance from early 2021 and mid- September. This might imply a FIB retracement to the 50 degree. If confirmed, a great entry to purchase lengthy at round $39-$40 degree.
Prediction 3: the 50SMMA continues to be the help because it was finish of September. If the worth drops, the 50SMMA must be a confluence to the golden ratio of .618 on the FIB chart. Sturdy affirmation if it does! Absolute best situation to re-enter DOT at $35.9-$36.6 ranges.
Thanks for studying and please let me know your ideas/concepts.
HAL
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