DOTUSDT Dynamic Resistance|Structural S/R|Apex|Declining Volume

2020年10月4日

Evening Traders,

Second Analysis – DOTUSDT- trading with the psychology of a Descending Triangle, price is approaching its apex.

Points to consider,
- Bearish Price Action
- Structural S/R Respected
- Key Dynamic Resistance
- Oscillators Below 50
- Declining Volume

DOTUSDT’s immediate price action is bearish with consecutive lower highs under dynamic resistance. Price is being coiled into its apex where a break will be imminent; breaking key structural S/R will allow us to have a bearish bias on the market.

Both oscillators are showing weakness trading under their 50- midpoint, further downside is likely to reach oversold conditions.

The volume profile is currently declining; an influx will be highly probable as price breaks from its Apex.

Overall, in my opinion, breaking bearish will allow for a valid short with define risk. Price action is to be used upon discretion/ management of trade.

Hope this analysis helps

Thank you for following my work!

And remember,

It does not matter how slowly you go as long as you do not stop.”Confucius