DOT/USD - Corrective pattern, will support hold? 🟠

DOT seems to have reached it's last leg up, set a new ATH and now we are correcting.

If we happen to fall under $27 then I am afraid DOT will extend its correction and we may end up somewhere around low $20 levels.

However, that is not yet the case since as long as we stay in this ascending channel we're fine. But watch the levels on the chart, if we break below the ascending support line that won't be good for DOT.

I would NOT buy now DOT. Wait for the support level at $27 at least to be tested and HOLD. Then we may get enough confidence to enter.

Until then, stay way.

MACD is also curving down, this is bearish, but could recover back up, to be seen. The structure and price action tells me we need to cooldown / correct some more.

Time will tell, by early March we will know if we stay in this ascending channel or not.

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