the price is creating a falling wedge after a bounce on the weekly support in the 6.1$ area. After that, the market started with a sequence of Lower Lows and Lower Highs, a typic downtrend movement.
Recently the price had a new breakout from the previous Lower Low, and retested the dynamic support of the Falling Wedge.
How to approach it?
The price could create a new LH, above the 5$ area in order to create a last LL on the weekly support to brave the liquidity. The weekly support is a key level for DOT, where the previous bull run started.
Otherwise, If the price is going to create a breakout and new HH, we could apply MTB in order to follow the reverse movement
Recently the price had a new breakout from the previous Lower Low, and retested the dynamic support of the Falling Wedge.
How to approach it?
The price could create a new LH, above the 5$ area in order to create a last LL on the weekly support to brave the liquidity. The weekly support is a key level for DOT, where the previous bull run started.
Otherwise, If the price is going to create a breakout and new HH, we could apply MTB in order to follow the reverse movement
Commentaire:
Now the price is going to retest the resistance
Let's see how the daily candle is going to close