DOT/USDT: Technical Analysis
Time Frame: 4-hour
Current Price: $4.38
Trend: Bullish
Indicators:
1. RSI (14): 63.15 (Bullish)
2. MACD (12, 26): 0.081 (Bullish)
3. Moving Averages:
- 50-period MA: $4.17
- 200-period MA: $3.87
4. Bollinger Bands:
- Upper band: $4.59
- Lower band: $3.97
Support and Resistance Levels:
1. Support:
- S1: $4.23
- S2: $4.09
- S3: $3.95
2. Resistance:
- R1: $4.53
- R2: $4.69
- R3: $4.85
Candlestick Patterns:
1. Bullish Engulfing
2. Hammer
Chart Patterns:
1. Ascending Triangle (Bullish)
2. Inverse Head and Shoulders (Bullish)
Analysis:
The 4-hour chart shows a bullish trend, with DOT/USDT forming an ascending triangle. The RSI is bullish, while the MACD indicates bullish momentum.
Trading Strategy:
1. Long: Above $4.53, targeting $4.69 and $4.85.
2. Short: Below $4.23, targeting $4.09 and $3.95.
Risk Management:
1. Stop-loss: 5-10% below entry price.
2. Position size: 2-5% of total portfolio.
Market Sentiment:
1. Fear & Greed Index: 64 (Greed)
2. Sentiment Analysis: 75% Bullish, 25% Bearish
Not a financial advice