Yello, Paradisers! DOTUSDT has been moving within a descending channel, presenting a textbook retracement pattern. Now, all eyes are on the crucial support zone, which could be the key turning point for the next move.
💎If DOTUSDT reaches this support zone and forms bullish patterns like a bullish I-CHoCH (Internal Change of Character), a W-pattern, or even an inverse head and shoulders, the probabilities for a bounce significantly increase. This could signal a potential bullish reversal from this critical area.
💎However, in the case of panic selling or deeper retracement, we may see a bounce from the strong support zone below. But remember, confirmation is key—bullish patterns in these zones will strengthen the case for a reversal.
💎If DOTUSDT breaks below the strong support zone and closes a candle there, this would invalidate the bullish setup. In such a scenario, waiting for new price action to develop is the smarter, safer move.
Staying patient and disciplined is essential here. Trade strategically, avoid impulsive moves, and let the market show its hand before jumping in. Remember, the best trades come to those who wait for the highest probability setups.