Polkadot could be making one more drop before we get to our ideal buy zone of $10. We appear to be in an ABC expanding correction now and looking for one more move down which we can capitalise on for the short term.
Short Term Trade Idea: SHORT
- Watch for bearish price action at the 32.5 to 33 level
- Watch for ascending trendline break for an extra confluence
- Enter with stops above the recent highs
- Targets: 22.5, 17.5, 10
Longer Term Trade Idea: LONG
- Watch for price to come back to the $10 level
- Once bullish price action appears, enter with stops below the lows
- Targets: 32.5, 54, 69, actively manage the rest
Let us know what you think. Goodluck!
Short Term Trade Idea: SHORT
- Watch for bearish price action at the 32.5 to 33 level
- Watch for ascending trendline break for an extra confluence
- Enter with stops above the recent highs
- Targets: 22.5, 17.5, 10
Longer Term Trade Idea: LONG
- Watch for price to come back to the $10 level
- Once bullish price action appears, enter with stops below the lows
- Targets: 32.5, 54, 69, actively manage the rest
Let us know what you think. Goodluck!
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Lower timeframe Analysis
