DOT/USDT – 4H – SELLThe combination Polkadot/Tether (DOT/USDT) moves from the bullish trendline downwards
The bearish trend down to the next support at 3.800000000 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance zone at 4.682000000 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Matching Low’ candle pattern is found. The chart forms ‘Matching Low’. which is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 5.400000000 |
| 2nd High | 5.120000000 |
| Next High | 4.682000000 |
| Current Price | 4.274000000 |
| 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 – Matching Low – Rising Wedge Chart Pattern