DOT/USDT – 1H – SELLThe combination Polkadot/Tether (DOT/USDT) goes from the bearish trendline down.
A continuation of the downward movement downwards to the next support at 4.279000000 is certain.
Caution: A possible trend reversal in the direction of the resistance line at 4.673000000 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Tweezers Top’ chart pattern is existing. The candles show ‘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 success rate of a ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 5.120000000 |
| 2nd High | 4.682000000 |
| Next High | 4.673000000 |
| Current Price | 4.468000000 |
| Next Low | 4.279000000 |
| 2nd Low | 4.165000000 |
| 3rd Low | 4.133000000 |
4.673000000 – 4.587000000 – 4.454000000 – 4.279000000 – 4.381000000 – 4.165000000
Trading Signals: FOREX – DOT – DOT/USDT – USDT – Tweezers Top – Double bottom retreat down