DOT/USDT – 1H – BUYNext a ‘Double bottom chart pattern’ chart formation is found. The chart picture forms ‘Double bottom chart pattern’. which is a bullish signal. The pair is likely to go up.
The currency pair Polkadot/Tether (DOT/USDT) breaks through the descending trendline upwards
A bullish ascent upwards to the next resistance at 4.112000000 will persist.
Caution: A possible trend reversal in the direction of the support zone at 3.963000000 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Resistance Level’ indicator signal is existing. The indicator is ‘Resistance Level’. which is often a bullish signal. The currency pair could go up.
Next a ‘Northern Doji’ chart pattern is detected. The chart shows ‘Northern Doji’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 4.682000000 |
| 2nd High | 4.214000000 |
| Next High | 4.112000000 |
| Current Price | 4.137000000 |
| Next Low | 3.963000000 |
| 2nd Low | 3.868000000 |
| 3rd Low | 3.742000000 |
4.112000000 – 4.058000000 – 3.992000000 – 3.963000000 – 3.977000000 – 3.868000000
Trading Signals: FOREX – DOT – DOT/USDT – USDT – Northern Doji