DOT is a bit miserable tonight—it’s dropped more than 9% and is now hovering around $1.125.
Most of the altcoins are retracing too. This DOT drop has essentially given back a large portion of the gains from the past few days. A single-day bearish candle of -9% definitely leaves short-term sentiment weak. If you’re thinking of bottom-fishing, weigh it carefully—don’t rush to catch a falling knife.
If you want to get on board, wait for signs that it’s stabilizing. Chasing shorts doesn’t really offer much profit either—patience matters more than anything.
Most of the altcoins are retracing too. This DOT drop has essentially given back a large portion of the gains from the past few days. A single-day bearish candle of -9% definitely leaves short-term sentiment weak. If you’re thinking of bottom-fishing, weigh it carefully—don’t rush to catch a falling knife.
If you want to get on board, wait for signs that it’s stabilizing. Chasing shorts doesn’t really offer much profit either—patience matters more than anything.