DOT - Anatomy of (Potential) Explosive Price Action
Hey Traders,
DOT today has been one of the best performing alt coins; however, the surge is mostly accredited to the listing on Coinbase. I wanted to explore further if DOT has the potential to gain Market Dominance and continue on this explosive trend. Quick reminder: we are still in a bear market and it is extremely risky to own altcoins at the moment. BTC right now looks prone for a move up, however, BTC Dominance would likely surge as well and little impact may be reflected on alt's.
The way that I see it, DOT.D is right on the cusp for breaking out of the bull flag it is currently in. The logarithmic MACD is something I rely to in order to understand when we can break above a certain consolidation range. Right now, if the trend would be to continue, our LMACD would be in a similar sentiment - showing very explosive price action at best and a resistance test in the worst.
Will follow up with snapshots down below. Enter your opinions in the comments.
Cheers everyone!
DOT today has been one of the best performing alt coins; however, the surge is mostly accredited to the listing on Coinbase. I wanted to explore further if DOT has the potential to gain Market Dominance and continue on this explosive trend. Quick reminder: we are still in a bear market and it is extremely risky to own altcoins at the moment. BTC right now looks prone for a move up, however, BTC Dominance would likely surge as well and little impact may be reflected on alt's.
The way that I see it, DOT.D is right on the cusp for breaking out of the bull flag it is currently in. The logarithmic MACD is something I rely to in order to understand when we can break above a certain consolidation range. Right now, if the trend would be to continue, our LMACD would be in a similar sentiment - showing very explosive price action at best and a resistance test in the worst.
Will follow up with snapshots down below. Enter your opinions in the comments.
Cheers everyone!
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