DOT/USDT – 4H – BUYThe pair Polkadot/Tether (DOT/USDT) breaks through the descending trendline upwards
An ascent upwards to the next resistance level at 4.196000000 is considered certain.
Caution: A possible reversal of the trend in the direction of support at 3.800000000 should be noted.
Consider stop-loss settings accordingly.
Next a ‘Bullish Engulfing’ candlestick chart pattern is found. The candles show ‘Bullish Engulfing’. 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 chance of ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 4.682000000 |
| 2nd High | 4.346000000 |
| Next High | 4.196000000 |
| Current Price | 4.189000000 |
| Next Low | 3.800000000 |
| 2nd Low | 3.323000000 |
| 3rd Low | 3.308000000 |
4.196000000 – 4.110000000 – 3.665000000 – 3.800000000 – 3.323000000 – 3.308000000
Trading Signals: FOREX – DOT – DOT/USDT – USDT – Bullish Engulfing – Double bottom retreat down