DOT: short-term head and shoulders bottom pattern, try to enter the market with long orders

On November 24, DOT's analysis mentioned that DOT had ended its previous upward trend and the price had begun to enter a consolidation stage. It believed that the current increase was only temporary and that it would continue to rise after the consolidation was over. It has been a week since the last analysis was released, and DOT’s consolidation trend has almost come to an end, and it may start to choose a direction within the next day or two.

Based on the last analysis, we tend to believe that DOT will choose the upward direction next. The blue line is a downward trend line coming down from the high level, which has suppressed the price many times. Only by breaking through this downward trend line can DOT usher in the next wave of rising prices.

In terms of technical indicators, the 1-hour OBV data continues to decline, and has begun to deviate from the price, suggesting pallet shipments. Although the 1-hour MACD has formed a golden cross, it did not allow the price to form a strong rebound. But at the same time, we also noticed that the price has been supported after touching around $5 many times. In the short term, a head and shoulders bottom pattern appeared, which is a short-term bullish pattern.

The valuation range was adjusted to 4.8-5.8 during the week

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Based on the above point of view, if you don’t have long orders currently, you can try to intervene with small positions and long orders near $5.1, with a stop loss price of $5.