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DOTUSD Perpetual Swap Contract

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DOTUSD.P trade ideas

Polkadot: 22% drop or $7 retest ?Hello all and thanks for your continuous support. As the entire market, so does polkadot headed south today. Currently trading inside a falling wedge pattern, the chances for breaking bullish out of this pattern are very little. As such, my bearish price target for this pattern formation is $4.70. This is our 161.8% fibonacci retracement level. The $4.7 is the lowest horizontal support level since December 2020. Keep an eye on the descending line of support of this falling wedge pattern sitting at $6. If we loose this level we are going to $4.7. This will be another 22% drop. If the price successfully breaks above the fib golden pocket we have a chance of retesting the $7. Thanks for reading, and stay tuned. Enjoy.
BINANCE:DOTUSD
by EdgarTigranyan
Alt Season...Many will instantly dismiss the idea of any cryptos going up anytime soon - however I believe we're in the early stages of an alt season/potential new bull run - this cycle could last years also and new highs will come naturally - ETH is probably the most important asset in the world right now and everything important is gravitating towards it - I believe everything is going on the blockchain to some degree and the infrastructure is being built before our eyes - the innovation spark of this next alt cycle will be layer 2s imo which will onboard loads of new users seamlessly to layer 1's like ETH making the whole Web 3 narrative a reality and speed up the adoption curve.
BINANCE:DOTUSDLong
by Swoop6
1
Ever seen a 🐳 w/ a POLKA #DOT tail? DOT/USD 12hr trade set up. Looking to go long if price action confirms $6.80 as support (Entry option #1). W/ a break down of $6.80 I will be looking to $6.44 to see if this level confirms as support (Entry option #2) Most Alts pose a bit higher risk at the moment due to the possibility of Bitcoin breaking down while it flirts with 19.3-19.5k but they also pose a higher reward. Entry 1: $6.80 Target 1: $7.90 Target 2: $8.60 Stop Loss: 4% below entry based on your own risk. Entry 2: $6.44 Targets: Nothing changes Stop Loss: 4% below entry based on your own risk. Never trade with out a stop loss unless you want your swing trade to turn into a HODL position. Should support break down and confirm, I will be looking for another Entry at #2.
BINANCEUS:DOTUSDLong
by jlouvierobv
1
$DOT/Broadening Wedge In the Money Zone (PENDING)$DOT has formed a nice broadening wedge at the 886 range from the last swing high to swing row and is now trying to establish/validate a new local higher low above $6.76 at the $7 range. The MACD and RSI has printed hidden bullish divergence on both oscillator's indicating that momentum is started to build back up to possibly break through the top of the wedge and have a nice run... We were due for a pullback after the last few weeks being manly green candles.. Overall, this is healthy price action and I don't think anyone should be panicking, as this is just traditional price action after a good few weeks for crypto...We also got some good news from the ETH merge. Cheers **DISCLAIMER, THIS IS NOT AN ACTIVE TRADE ATM, I AM JUST FOLLOWING THE STANDARDS OF TRADITIONAL TECHNICAL ANALYSIS. ANYTHING CAN HAPPEN**
BINANCE:DOTUSDLong
by BShellhammer
1