I spent sort of an hour to notice a perfect impulse that enters its final stage.
There was an extended internal wave 3, I check it with a simple impulse channel and fibo tool.
Key level - lately retested - is a decent liquidity pool, both from buyers (trading w/o stops, which closed positions at breakeven after a pullback), and sellers, who had their protective stops at that level).
What is happening now is a real accumulation (as opposed to wave 5 in a bullish sequence - that is a distribution to those catching the last wave). Selling pressure increases, leading to even longer term holders reduce positions), and DOT successfully changes weak hands to the strategic players.
If my assumption is reasonable, I would argue the best and the last possible level for DOT is around 20 greenbacks.
Will see.
Earlier trade closed at b/e.
There was an extended internal wave 3, I check it with a simple impulse channel and fibo tool.
Key level - lately retested - is a decent liquidity pool, both from buyers (trading w/o stops, which closed positions at breakeven after a pullback), and sellers, who had their protective stops at that level).
What is happening now is a real accumulation (as opposed to wave 5 in a bullish sequence - that is a distribution to those catching the last wave). Selling pressure increases, leading to even longer term holders reduce positions), and DOT successfully changes weak hands to the strategic players.
If my assumption is reasonable, I would argue the best and the last possible level for DOT is around 20 greenbacks.
Will see.
Earlier trade closed at b/e.
