🚀Buckle up, BTC enthusiasts! Polkadot (DOT) is showing signs of a potential bullish revival in the medium term. After a period of consolidation correction, DOT has found support within a pivotal zone, between the 0.5 ($8.9) and 0.618 ($8.2) Fib retracement levels and the influential 100-day moving average. 📈

In early November 2023, Polkadot saw a significant uptrend after breaking above the 100 and 200-day moving averages, reaching a yearly high of $11.9. However, the climb was met with selling pressure around the $11.9 resistance zone, leading to a corrective retracement towards a robust support region. 📉

The convergence of these support levels suggests a pronounced demand at this critical juncture, potentially impeding further downward movement. DOT’s immediate objective remains the pivotal $10 resistance level upon a bullish rebound. 🎯

The futures market sentiment also indicates a bullish outlook for Polkadot. The long/short accounts ratio has recently undergone a significant reversal, exhibiting a consistent uptrend and attaining its highest recorded values. This pattern suggests a prevailing bullish sentiment in the futures market, with a majority of participants favoring long positions in aggregate. 🐂

So, while we remain neutral on the market, we're definitely feeling the BTC love! Stay tuned for more updates. 🚀🌕