After absorbing liquidity, DOTUSDT has formed a W patternð
ð Paradisers, #DOT is showing a Break of Structure (BOS) towards a bullish market structure and has formed a 'W' pattern after absorbing liquidity, which increases the likelihood of a bullish move.
ð This level is also supported by the Fibonacci 61.80% level, which further enhances the bullish probability. However, for confirmation, we need the price to break above the resistance level, after which we can expect a bullish move up to the next resistance levels.
ð If the price breaks down below the bullish OB level, it will invalidate the bullish structure. In that case, it would be better to avoid it and wait for better price action to form.
ð This level is also supported by the Fibonacci 61.80% level, which further enhances the bullish probability. However, for confirmation, we need the price to break above the resistance level, after which we can expect a bullish move up to the next resistance levels.
ð If the price breaks down below the bullish OB level, it will invalidate the bullish structure. In that case, it would be better to avoid it and wait for better price action to form.
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