Polkadot seems to be in the demand zone($6.24 - 3.90) on the weekly time frame forming equal highs/lows. This possibly signifies an accumulation of orders at this zone before an explosive move towards the weekly supply zone of - $15.34- 23.78 region. This zone also coincides with the golden ration in the Fib retracement, which adds to our confluence.The RSI also seems to have stopped forming lower lows and looks like its displaying a potential reversal/bullish divergence in play.
If this move plays out(dependant on Bitcoin) we could see a sharp sell off once it reaches the supply zone.
If you are accumulating #Dot in these regions make sure to take some profit at this key level.
If this move plays out(dependant on Bitcoin) we could see a sharp sell off once it reaches the supply zone.
If you are accumulating #Dot in these regions make sure to take some profit at this key level.