DOT/USDT – 1H – BUYThe currency pair Polkadot/Tether (DOT/USDT) goes from the descending trendline down.
A continuation of the downtrend downwards to the next support at 6.520000000 is considered certain.
Caution: A possible trend reversal in the direction of resistance at 7.988000000 is also possible.
Consider stop-loss settings accordingly.
In addition a ‘In-Neck’ candle pattern is found. The candles show ‘In-Neck’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘In-Neck’ going down is 53% (Bull Market) & 65% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 8.972000000 |
| 2nd High | 8.468000000 |
| Next High | 7.988000000 |
| Current Price | 6.781000000 |
| Next Low | 6.520000000 |
| 2nd Low | 6.010000000 |
| 3rd Low | 5.955000000 |