DOT has failed two times to pass it's previous top in the last days and now we seem to correct lower, similar to ETH. We also broke the ascending support line which may push us to $16 at least.
If that support can't hold us, we are likely to re-test the levels just above $14. The indicators on daily are also looking quite bearish and curving down. We do not have a bearish cross yet on daily MACD, but if we don't break up of this channel, then I don't see how we can be bullish in the near term.
Hence, my bias is bearish and I expect us to revisit lower levels before we can refuel. Also watch ETH since the price action is similar on these two coins.
There is also good news in all of this, money seems to be flowing back into BTC! So we may get another BTC season soon with alts ranging.
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If that support can't hold us, we are likely to re-test the levels just above $14. The indicators on daily are also looking quite bearish and curving down. We do not have a bearish cross yet on daily MACD, but if we don't break up of this channel, then I don't see how we can be bullish in the near term.
Hence, my bias is bearish and I expect us to revisit lower levels before we can refuel. Also watch ETH since the price action is similar on these two coins.
There is also good news in all of this, money seems to be flowing back into BTC! So we may get another BTC season soon with alts ranging.
Like and follow if you liked this idea!
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