DOT/USDT – 4H – SELLThe currency pair Polkadot/Tether (DOT/USDT) goes from the bullish trendline downwards
A bearish descent down to the next support at 3.308000000 is expected.
Caution: A possible trend reversal in the direction of the resistance level at 3.665000000 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Matching Low’ candle chart pattern is existing. The chart forms ‘Matching Low’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 4.346000000 |
| 2nd High | 3.991000000 |
| Next High | 3.665000000 |
| Current Price | 3.343000000 |
| Next Low | 3.308000000 |
| 2nd Low | 3.007000000 |
| 3rd Low |
3.665000000 – 3.465000000 – 3.991000000 – 3.308000000 – 3.007000000 – 3.709000000
Trading Signals: FOREX – DOT – DOT/USDT – USDT – Matching Low – Head and Shoulder chart pattern