DOT has risen 700%+ since December and had a pretty solid bounce off of the $40 mark back downward since mid-late February. As it winds it way back down toward the Kumo, it will run into some weak support around the Tenkan Sen (Red) and the Kijun Sen (Blue) with more solid support holding up around the $29 mark.
I would expect DOT to potentially bounce at $29 between a 76 and 9 period reversal area around 11-13 March, and to make it's way back up toward $50+ after testing/surpassing the $40 resistance to finish the climb at the end of March or early April at two potential 26 period Kihon Suchi.
As always, comments and ideas are welcome! Please feel free to share your own analysis!
This information is not trading advice, only my personal opinion on potential market movements, and is for educational purposes only.
I would expect DOT to potentially bounce at $29 between a 76 and 9 period reversal area around 11-13 March, and to make it's way back up toward $50+ after testing/surpassing the $40 resistance to finish the climb at the end of March or early April at two potential 26 period Kihon Suchi.
As always, comments and ideas are welcome! Please feel free to share your own analysis!
This information is not trading advice, only my personal opinion on potential market movements, and is for educational purposes only.