Trade Setup: Polkadot Head and Shoulder Reversal
A head and shoulder reversal pattern has formed on $DOT. If
BTC
continues to dump it will drag down altcoins with it and this pattern will activate. If that happens I expect it will bounce around the 161.8 fibonacci extension which coincides with a retest of a major falling wedge pattern that we broke out of earlier this year.
I remain bullish on
DOT
in the long run and I am keeping an eye on the weekly cloud E2E trade which I expect will play out later this year. A short term dump will be a good opportunity to load up big for that.
BTC
continues to dump it will drag down altcoins with it and this pattern will activate. If that happens I expect it will bounce around the 161.8 fibonacci extension which coincides with a retest of a major falling wedge pattern that we broke out of earlier this year. I remain bullish on
DOT
in the long run and I am keeping an eye on the weekly cloud E2E trade which I expect will play out later this year. A short term dump will be a good opportunity to load up big for that.
トレード終了: ストップロスに到達:
The market has clearly reversed and also DOT just activated the edge to edge trade on the weekly timeframe that I was anticipating.
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