$DOT just bled about 10% in a day, from 1.19 down to 1.06, and it's now sitting right on top of the zone that has caught it all month. The mid-October lows were 1.045 and 1.048, so this is a retest, not new territory yet.
On the NanoTrading Fire chart (4h) there's a fresh resting bid band right under price around 1.05-1.065, and the liquidation map has its thickest long clusters stacked from roughly 1.03 to 1.05. Above, the first real wall is 1.09-1.11 and the volume POC is way up at 1.16. So the map shows a lot of fuel just below and a lot of supply on the way back up.
Binance futures look tired rather than panicked. OI slid from about $36.8M to $32.1M over the last couple of days, so this drop was more longs closing than shorts piling in. Funding is slightly negative, yet top traders are still around 73% long by position, which is exactly the crowd sitting on those 1.03-1.05 clusters.
My plan: a sweep into 1.04-1.05 that gets bought back fast is the long I'd want, targeting 1.09-1.11. A 4h close under 1.03 and I'm out of the way, that's where the cascade lives. Not touching the middle 🤔
What do you think, does 1.05 hold one more time or is $DOT finally losing it?
NFA, just my read.
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#DOT #Polkadot #NanoTrading
On the NanoTrading Fire chart (4h) there's a fresh resting bid band right under price around 1.05-1.065, and the liquidation map has its thickest long clusters stacked from roughly 1.03 to 1.05. Above, the first real wall is 1.09-1.11 and the volume POC is way up at 1.16. So the map shows a lot of fuel just below and a lot of supply on the way back up.
Binance futures look tired rather than panicked. OI slid from about $36.8M to $32.1M over the last couple of days, so this drop was more longs closing than shorts piling in. Funding is slightly negative, yet top traders are still around 73% long by position, which is exactly the crowd sitting on those 1.03-1.05 clusters.
My plan: a sweep into 1.04-1.05 that gets bought back fast is the long I'd want, targeting 1.09-1.11. A 4h close under 1.03 and I'm out of the way, that's where the cascade lives. Not touching the middle 🤔
What do you think, does 1.05 hold one more time or is $DOT finally losing it?
NFA, just my read.
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#DOT #Polkadot #NanoTrading