DOT/USDT – 4H – SELLThe currency pair Polkadot/Tether (DOT/USDT) moves from the bullish trendline downwards
A bearish trend down to the next support line at 3.308000000 will continue.
Caution: A possible change in the direction of the resistance level at 3.665000000 should always be considered.
Consider stop-loss settings accordingly.
Moreover a ‘Matching Low’ chart pattern is found. The candles show ‘Matching Low’. this is a bullish chart scenario. The pair is likely to go up. 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