DOTUSD Futures ( DOTUSD3 ), H4 Potential for Bearish Drop
Title: DOTUSD Futures ( DOTUSD3 ), H4 Potential for Bearish Drop
Type: Bearish Drop
Resistance: 6.992
Pivot: 6.454
Support: 5.700
Preferred case: Looking at the H4 chart, my overall bias for DOTUSD3 is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. Expecting price to continue heading towards the support at 5.700, where the overlap support is.
Alternative scenario: Price could head back up towards the resistance at 6.992, where the previous swing high is.
Fundamentals: There are no major news.
Type: Bearish Drop
Resistance: 6.992
Pivot: 6.454
Support: 5.700
Preferred case: Looking at the H4 chart, my overall bias for DOTUSD3 is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. Expecting price to continue heading towards the support at 5.700, where the overlap support is.
Alternative scenario: Price could head back up towards the resistance at 6.992, where the previous swing high is.
Fundamentals: There are no major news.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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