DOT/USDT – 4H – BUYThe combination Polkadot/Tether (DOT/USDT) breaks through the descending trendline up.
A bullish trend upwards to the next resistance line at 4.624000000 is expected.
Caution: A possible reversal of the trend in the direction of the support line at 3.800000000 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Resistance Level’ indicator layout is existing. The indicator shows ‘Resistance Level’. which is often a bullish chart scenario. The pair is likely to go up.
Moreover a ‘Bullish Engulfing’ candlestick pattern is detected. The candles show ‘Bullish Engulfing’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 5.120000000 |
| 2nd High | 4.682000000 |
| Next High | 4.624000000 |
| Current Price | 4.285000000 |
| Next Low | 3.800000000 |
| 2nd Low | 3.323000000 |
| 3rd Low | 3.308000000 |
4.624000000 – 4.196000000 – 4.110000000 – 3.800000000 – 3.323000000 – 3.308000000
Trading Signals: FOREX – DOT – DOT/USDT – USDT – Bullish Engulfing –