It is highly likely that DOT will breakout (bullish trend) at around 10.97; the last of the downtrend seen on 20th July, 2021. By then, the RSI will also be quite low and this underbought trend will cause more fear.
As we all know that DOT is fundamentally a very strong cryptocurrency, so seasoned investors are waiting for the amateur/impulsive investors to weed out of the market.
Once the uptrend begins, it will at least reach $50 and may even break ATH. But again RSI should be kept in mind. If it is overbought, we have to trade carefully and apply stop-loss at last resistance levels.
Now, my theory stems from analyzing my past mistakes. I always felt that the crypto market\Bogdanoff twins were out to get me; when i buy, it crashes and when I sell, the prices soar high(LOL). But the fact was that I was merely a poor/impulsive analyst and in the cape of psychological manipulation.
In crypto, when there is greed, show fear and when there is fear, be greedy.
DISCLAIMER: THIS IS NOT ANY FINANCIAL ADVICE. THIS IS JUST MY OPINION. PLEASE DYOR BEFORE ENTERING ANY TRADE.
As we all know that DOT is fundamentally a very strong cryptocurrency, so seasoned investors are waiting for the amateur/impulsive investors to weed out of the market.
Once the uptrend begins, it will at least reach $50 and may even break ATH. But again RSI should be kept in mind. If it is overbought, we have to trade carefully and apply stop-loss at last resistance levels.
Now, my theory stems from analyzing my past mistakes. I always felt that the crypto market\Bogdanoff twins were out to get me; when i buy, it crashes and when I sell, the prices soar high(LOL). But the fact was that I was merely a poor/impulsive analyst and in the cape of psychological manipulation.
In crypto, when there is greed, show fear and when there is fear, be greedy.
DISCLAIMER: THIS IS NOT ANY FINANCIAL ADVICE. THIS IS JUST MY OPINION. PLEASE DYOR BEFORE ENTERING ANY TRADE.