DOT: Continue to hold the bottom position. If the price rises, you can close the position and take profit.
In the analysis of DOT on November 7, we mentioned that we can wait for the price of DOT to fall back to the yellow line area before opening a long position. On the evening of November 9, DOT fell sharply and then reached the yellow line area and began to rebound, with the price reaching a maximum of $5.9. Then started to fall back.
Judging from the current market situation, DOT has begun to see chip supply after reaching $5.9, and its rise has been hindered. The daily MACD has formed a high dead cross, and the short-term market has begun to enter the correction and rest stage. There are currently no signs of ending the consolidation. Although the OBV indicator has temporarily stopped falling, it has not yet shown an upward momentum, and it is impossible to judge that long funds have entered the market to buy the bottom. There are initial signs of a turning point in the Bollinger Bands, but the Bollinger Bands middle track has supported the latest decline, making the entire consolidation market now tend to move sideways, and the bulls still show enough resilience.
Since many indicators show that the current market adjustment has not yet ended, if there is a short-term rise, we should also be wary of the possibility of attracting bullish prices. The safer entry point for long orders is to give priority to the position above the yellow line area. As the market continues to run, the two indicators of the daily 90 moving average and the lower Bollinger Bands will also reach the yellow line in sequence. After multiple indicators converge, the support effect of the yellow line will be more significant.
Adjustment
We believe that DOT's current rise is only temporary and will continue to rise after the market adjustment is over. The target price is raised to $7.
operate
You can continue to hold the long orders established at 4.5-4.6. If the short-term market rises rapidly again to around $5.9, you can close the position first and take profits. After the price falls again, you can enter the market at the cost of 4.5-4.6.
In the analysis of DOT on November 7, we mentioned that we can wait for the price of DOT to fall back to the yellow line area before opening a long position. On the evening of November 9, DOT fell sharply and then reached the yellow line area and began to rebound, with the price reaching a maximum of $5.9. Then started to fall back.
Judging from the current market situation, DOT has begun to see chip supply after reaching $5.9, and its rise has been hindered. The daily MACD has formed a high dead cross, and the short-term market has begun to enter the correction and rest stage. There are currently no signs of ending the consolidation. Although the OBV indicator has temporarily stopped falling, it has not yet shown an upward momentum, and it is impossible to judge that long funds have entered the market to buy the bottom. There are initial signs of a turning point in the Bollinger Bands, but the Bollinger Bands middle track has supported the latest decline, making the entire consolidation market now tend to move sideways, and the bulls still show enough resilience.
Since many indicators show that the current market adjustment has not yet ended, if there is a short-term rise, we should also be wary of the possibility of attracting bullish prices. The safer entry point for long orders is to give priority to the position above the yellow line area. As the market continues to run, the two indicators of the daily 90 moving average and the lower Bollinger Bands will also reach the yellow line in sequence. After multiple indicators converge, the support effect of the yellow line will be more significant.
Adjustment
We believe that DOT's current rise is only temporary and will continue to rise after the market adjustment is over. The target price is raised to $7.
operate
You can continue to hold the long orders established at 4.5-4.6. If the short-term market rises rapidly again to around $5.9, you can close the position first and take profits. After the price falls again, you can enter the market at the cost of 4.5-4.6.