DOT - Its Time Will Come!

Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.

DOT has been overall bearish for a while and it is now approaching a strong weekly support and round number 5.0 in green.

DOT is forming a channel in red but the upper trendline is not valid yet, so we are waiting for a new swing low to form around it to consider it our trigger swing.

For the bulls to take over from a long-term perspective, we need a break above the channel and last major high in gray.

Meanwhile, until the buy is activated, DOT would be overall bearish and can still trade lower inside the 5.0 support.

In this case, as price approaches the support again, we will be looking for short-term buy setups.

Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich