🚀 Trade Setup: $DOT / USDT (Polkadot)
Theme: The "Double Bottom" Recovery Play
The chart shows Polkadot (DOT) finding strong footing after a sharp correction. We are seeing a classic "W" formation (Double Bottom) at the 2.15 support level, suggesting the selling pressure is exhausting.
📊 The Technical Breakdown
Support Zone: $2.157 – This is the line in the sand. DOT has tested this twice and bounced, showing buyers are stepping in.
Moving Averages: Price is currently fighting to reclaim the MA(25) (pink line) and MA(7) (yellow line). A crossover here is our "Go" signal.
Momentum: Volume is stabilizing, and the price is consolidating just below a breakout point.
⚡ Trading Strategy
Entry Zone: $2.19 - $2.21 (Look for a 30m candle close above the MA25).
Target 1 (Conservative): $2.26 (Recent local peak).
Target 2 (Mid-term): $2.33 (Major resistance & recent high).
Stop Loss: Below $2.14 (Protects against a breakdown of the double bottom).
💡 Pro Tip: Watch the Jan 20th Network Upgrade. This fundamental catalyst could provide the "fuel" needed to break through the $2.30 resistance.
Headline: Is $DOT ready for a 10% move? 📈
Caption:
Looking at the 30m chart on #Binance, Polkadot is carving out a beautiful double-bottom pattern at the $2.15 support. 🛡️
The bulls are fighting to reclaim the moving averages. If we flip $2.20 into support, the path to $2.33 looks wide open! With the upcoming network upgrades on Jan 20, the timing for a recovery play looks sharp. 🛠️
What’s your move? Accumulating or waiting for the breakout? 👇
