DOTUSDT | MOMENTUM FADING??
DOT / TetherUS BINANCE:DOTUSDT
Technical Analysis
Fibonnaci > Price action has retraced to 0.5 percent of the rally from Feb 2022 till Mar 2022
Trend Line > Ascending Trend line is broken and now we can expect a sideways move rather than a sudden drop.
Seasonal > April is bullish for BTC so we can find buying on dip strategy to work for DOT here as well.
Indicator > Bullish Divergence on Chaikin Oscillator
Based on the above parameters favoring the bulls, idea is to take long position with the short term targets. Stop loss is just below the 0.618 fib level and the targets are immediate resistance levels ahead.
