đđ "DOT Crypto Analysis: Navigating Volatility" đĄđ
đč Let's analyze the cryptocurrency coin DOT together for trading in lower timeframes. đ
đ Following recent events in the world and the Iranian missile and drone strikes towards Israel, we experienced a market downturn that affected most altcoins, separate from Bitcoin.
đ While Bitcoin, Ethereum, and a few top coins managed to recover from the red candles, most altcoins are struggling around their support levels, with the increase and upward candles of BTC.D being the main reason.
âł In the 4-hour timeframe, DOT has reached a daily support level after these events and is currently consolidating between the support at 6.342 and resistance at 7.272.
đ For short positions, our support is clear, and after breaking the support line at 6.342, we can continue short positions in the direction of the downtrend.
đ For long positions, we currently don't have a clear trigger, and we need market rest or the formation of a longer-term box or the loss of an upward move to establish a trigger for long positions later.
đ« After breaking the 6.342 support, or as we approach it with increasing volume and our RSI breaking 34.76, you can open short positions with a higher risk, and the stop loss for this trade, if confirmed by the candle, will be behind the candle. If we're just breaking the support, we'll place this stop loss around 7.272.
đŻ Our upcoming supports are 5.646, 4.854, 4.362, and resistances are 7.272, 8.134, 9.167. We expect re-actions and collisions in lower timeframes.
đ Aside from the analysis, in my opinion, if a war breaks out between Iran and Israel, initially, we will continue the downtrend, and then we'll see upward candles again because crypto is a consumer commodity. Ultimately, I hope no place in the world gets involved in war and that everywhere remains peaceful and secure.
đ If you'd like me to analyze a specific coin or currency pair, be sure to comment so that I can allocate the next analysis for you!
â ïž Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.
đ Following recent events in the world and the Iranian missile and drone strikes towards Israel, we experienced a market downturn that affected most altcoins, separate from Bitcoin.
đ While Bitcoin, Ethereum, and a few top coins managed to recover from the red candles, most altcoins are struggling around their support levels, with the increase and upward candles of BTC.D being the main reason.
âł In the 4-hour timeframe, DOT has reached a daily support level after these events and is currently consolidating between the support at 6.342 and resistance at 7.272.
đ For short positions, our support is clear, and after breaking the support line at 6.342, we can continue short positions in the direction of the downtrend.
đ For long positions, we currently don't have a clear trigger, and we need market rest or the formation of a longer-term box or the loss of an upward move to establish a trigger for long positions later.
đ« After breaking the 6.342 support, or as we approach it with increasing volume and our RSI breaking 34.76, you can open short positions with a higher risk, and the stop loss for this trade, if confirmed by the candle, will be behind the candle. If we're just breaking the support, we'll place this stop loss around 7.272.
đŻ Our upcoming supports are 5.646, 4.854, 4.362, and resistances are 7.272, 8.134, 9.167. We expect re-actions and collisions in lower timeframes.
đ Aside from the analysis, in my opinion, if a war breaks out between Iran and Israel, initially, we will continue the downtrend, and then we'll see upward candles again because crypto is a consumer commodity. Ultimately, I hope no place in the world gets involved in war and that everywhere remains peaceful and secure.
đ If you'd like me to analyze a specific coin or currency pair, be sure to comment so that I can allocate the next analysis for you!
â ïž Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.