DOT/USDT – 1H – SELL

Besides a ‘Rising Wedge Chart Pattern’ chart formation is detected. The formation shows ‘Rising Wedge Chart Pattern’. which is a bearish chart scenario. The currency pair is likely to fall.

The pair Polkadot/Tether (DOT/USDT) goes from the bearish trendline down.

A continuation of the bearish trend downwards to the next support at is considered certain.

Caution: A possible counter-trend in the direction of resistance at 4.587000000 is also possible.
Please make appropriate stop-loss settings in the case of a trade.

Besides a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is existing. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which could be a negative chart scenario. The currency pair could go down.

Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend is considered certain. Current target is 4.3495 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support line at 4.587000000 is also possible.
Please make appropriate stop-loss settings in the case of a trade.

Besides a ‘Three Outside Down’ candle chart pattern is existing. The chart shows ‘Three Outside Down’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

4.587000000 – 4.454000000 – 4.624000000 – 4.381000000 – 4.165000000 – 4.133000000

Trading Signals: FOREX – DOT – DOT/USDT – USDT – Three Outside Down – Rising Wedge Chart Pattern