I see a rough patch buildup in Q2/Q3 this year where more downside is expected.
This current consolidation phase we are in that has bounced off the 200 SMA looks likes it wants to break down with descending volume and RSI not yet close to oversold areas that I would be wary of.
I believe we could see a bounce off of any of the three Fib levels so I have put my allocation % by zone.
I am very long in the space in general, but I think we need to clean the charts up a bit after this run we have had... I would love to be able to pick up some dot in these areas as it is one of the better fundamental projects.
I expect things to turn around for the bulls in late Q4/Early Q1.
why bull in Q1 2022.... if this go under 10usd this year ?
if this happen (7-8usd eoy) the possible bounce is around 12-14usd......and crash again.....
i not see reason to agressive bounce to 40usd......
Thanks for the feedback, I agree with the notion there will be some resistance there at $12-$14, and possibly come back to retest bottom before ultimately heading higher.
Though I view this as the 0.886 Fib level that we will see and has shown multiple times to be the bottom. In fact, I think we will be lucky to get down to there given the current sentiment... though we all know that can change rapidly.
My thought process here is that we need to clean up the crypto market charts and we will likely test these lows. Given that, I would be surprised to see DOT make an ATL given the development that is happening on the platform.
I agree the bounce may not happen there, and there could be a prolonged consolidation between $7-$14, but the floor I identify is the low of that range and I would expect a large portion of the market to step in at a similar spot... (Causing a sharp reversal trend upward near that $7 level).
My analysis is always a mix of fundamental and TA.
if this happen (7-8usd eoy) the possible bounce is around 12-14usd......and crash again.....
i not see reason to agressive bounce to 40usd......