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Weekly forecast Polkadot technical chart
Symbol DOTUSD

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Trade Setup

#DOTUSDT
Total Profit: 39212 pip (316%)
Closed trade(s): 2357 pip Profit (19%)
Open trade(s): 36855 pip Profit (297%)

Trade Setup:
We opened 10 BUY trade(s) @ 12.318 based on 'Valley' entry method at 2021.07.21.

Closed Profit:
TP1 @ 14.675 touched at 2021.07.26 with 2357 pip Profit (19%).

Open Profit:
Profit for one trade is 16.413(current price) - 12.318(open price) = 4095 pip (33%)
9 trade(s) still open, therefore total profit for open trade(s) is 4095 (33%) x 9 = 36855 pip (297%)

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

DateJuly 31, 2021 - 13:11
Currentrange bound
Forecastbeginning of uptrend
Last weekBullish

Midterm forecast:

  • While the price is above the support 6.370, beginning of uptrend is expected.
  • We make sure when the resistance at 27.070 breaks.
  • If the support at 6.370 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The Falling Wedge taking shape and as a bullish pattern suggests we will soon see another leg higher if price breaks and closes above downtrend.
  • There is a divergence in RSI and price between the trough at 13.64 on 2021-05-23 and the trough at 10.375 on 2021-07-20, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 10.68 on 07/21/2021, so more gains to resistance(s) 17.11, 19.55, 21.59 and maximum to Major Resistance (27.07) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 60.

Take Profits:

  1. 14.68
  2. 17.11
  3. 19.55
  4. 21.59
  5. 27.07
  6. 31.38
  7. 34.44
  8. 39.57
  9. 49.79
Click on the level to view price action history.

Symbol Released Current Forecast
Polkadot (DOTUSD) Sat, 11 Sep 2021
Polkadot (DOTUSD) Sun, 5 Sep 2021
Polkadot (DOTUSD) Sat, 28 Aug 2021
Polkadot (DOTUSD) Sat, 21 Aug 2021
Polkadot (DOTUSD) free Sat, 14 Aug 2021