$DOT Analysis

TARGET 10$

It is correct that DOT has made a double bottom bounce on the weekly chart. This is a bullish sign, but the price needs to break the resistance cluster confluence of trendline resistance and horizontal at $5.76 to confirm the breakout. If the price breaks above $5.76, it could target the next resistance level at $10.26. However, if the price dumps below $4.87, it could invalidate the breakout and resume the downtrend.

Here are some additional thoughts on the analysis:

* The double bottom bounce is a bullish signal because it shows that the bears were unable to sustain the downtrend.The resistance cluster confluence at $5.76 is a strong resistance level.

* If the price breaks above this level, it would be a significant bullish signal.The target of $10.26 is based on the Fibonacci retracement levels.

* This is a popular technical analysis tool that traders use to identify potential support and resistance levels.

* The stop-loss of $4.87 is based on the 50% Fibonacci retracement level. This is a common level where traders place stop-losses to protect their profits.

Overall, the analysis is bullish for DOT.

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