DOT/USDT – 4H – SELLIn addition a ‘Double bottom retreat down’ chart formation is discovered. The chart forms ‘Double bottom retreat down’. which is a negative signal. The currency pair is likely to go down.
The currency pair Polkadot/Tether (DOT/USDT) goes from the ascending trendline down.
A descending movement downwards to the next support level at 3.800000000 will continue.
Caution: A possible counter-trend in the direction of the resistance line at 4.196000000 should be noted.
Consider stop-loss settings accordingly.
In addition a ‘Tweezers Top’ chart pattern is existing. The chart forms ‘Tweezers Top’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 4.682000000 |
| 2nd High | 4.346000000 |
| Next High | 4.196000000 |
| Current Price | 4.195000000 |
| Next Low | 3.800000000 |
| 2nd Low | 3.323000000 |
| 3rd Low | 3.308000000 |
4.196000000 – 4.110000000 – 3.665000000 – 3.800000000 – 3.323000000 – 3.308000000
Trading Signals: FOREX – DOT – DOT/USDT – USDT – Tweezers Top – Double bottom retreat down