▶️Technical Analysis: Polkadot (DOT)
▶️On the current DOT chart, we see a classic sideways channel – like a pendulum, the price moves back and forth between support and resistance levels.
How to trade? 🕯
⬇️The price is currently at the lower boundary of the channel – a potential entry point for buying.
📈 We look for confirmations: oscillators exiting the oversold zone and reversal candlestick patterns.
📉 At the upper boundary of the channel – a similar strategy, but in the opposite direction.
🔽🔼Upon breaking the channel – we open in the direction of the breakout.
⛔️We set a stop-loss behind support/resistance levels.
✔️Profit target – the next significant level.
Conclusion:
DOT in a sideways market offers both conservative strategies "from level to level" and the opportunity to capture momentum upon breaking the channel. The main thing is to maintain an attractive profit/risk ratio!
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maintain risk management
