DOTbtc Potential breakout + price discovery == opportunity
This is one i've been stalking for some time as well. DOT had a nice run up and met resistance pretty darn close to the ATH where it was rejected. It made another attempt building one of my favorite patterns to trade.
Three ways to play it:
1) Take a position around the current area if it fits your trade plan. This is the riskier entry but higher RR potential.
2) Wait for the break and retest of the resistance now turn support. This is safer but it may explode past and skip the retest.
3) Set a buy stop above resistance to catch the break. I dont like doing this since sometimes i can roll over on you.
Also look at the USDT pair for an entry if you play those. Its already broken out...twice.
Three ways to play it:
1) Take a position around the current area if it fits your trade plan. This is the riskier entry but higher RR potential.
2) Wait for the break and retest of the resistance now turn support. This is safer but it may explode past and skip the retest.
3) Set a buy stop above resistance to catch the break. I dont like doing this since sometimes i can roll over on you.
Also look at the USDT pair for an entry if you play those. Its already broken out...twice.