PolkaDot DOT - On a massive weekly support! 0.618 FIB + Channel

18 Jul 2022

• PolkaDot was a very strong altcoin in 2020-2021 as you can see on the historical chart and we can cleary spot an impulse wave here.
  
• The coin in 2022 fell to the strongest support (0.618 FIB + Wave 1 horizontal support + POC + ABC correction).
  
• If you like fundamentals of this coin, this is definitely a good time to buy, because we have a strong confluence.
  
• The missing part is the descending parallel channel, because the price is still inside the channel, but we have had a nice touch on the bottom.
  
• After an impulse wave - ABC correction is expected and in this case, the ABC correction has been sucessfullly completed with an ending diagonal pattern.
  
• If want to make a short term trade, you can place your profit target at the top of the channel, otherwise next stop is below previous all time high.
  
• Look at my ideas about interesting altcoins in the related section down below ↓
  
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