DOT poised for breakout
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DOT just broke out of a massive triangle formation yesterday - following the ETH-rally during the last two days.
However, one can see that DOT has massively underperformed ETH since hitting its ATH > 19$ a couple of weeks ago.
Actually, DOT/ETH is actually down during the ast month.
We also know that ETH got rejected at the top of its massive ascending channel last night, currently sitting just below it.
As DOT has usually rallied when BTC and especially ETH has consolidated in the past (during its brief history as a currency), it seems very likely that DOT breaks out in a rally very soon.
However, one can see that DOT has massively underperformed ETH since hitting its ATH > 19$ a couple of weeks ago.
Actually, DOT/ETH is actually down during the ast month.
We also know that ETH got rejected at the top of its massive ascending channel last night, currently sitting just below it.
As DOT has usually rallied when BTC and especially ETH has consolidated in the past (during its brief history as a currency), it seems very likely that DOT breaks out in a rally very soon.
Note
It is worth noting that I am a HODLer of ETH, DOT and ADA due to their long term potential in the DeFi ecosystem, and that the Protocol Sink Thesis holds.Thus, I only trade between these currencies to obtain more of these curencies in total - in other words, I do not trade against FIAT and therefore do not take short positions.
At the time, my entire portfolio consists of DOT after selling the ETH+ADA-rallies for DOT.
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