$DOT Pattern Analysis & Signal:
At first glance, the chart appears to be forming a double bottom pattern â hereâs why:
The price dropped to $3.741, bounced, and returned to the same level again.
This level has been tested twice, indicating a potential support zone.
The pattern resembles a "W" shape, which is typical of a double bottom â a bullish reversal signal, especially after a downtrend.
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Is It Fully Formed?
Not yet. For a double bottom to be confirmed:
1. You need two clear bottoms at nearly the same price (âïž already visible here at $3.741).
2. Then, the price must break above the neckline â which would be near $3.810 to $3.849 (the recent swing high between the two bottoms).
3. A breakout above that zone with strong volume = confirmation of bullish reversal.
đ Will Market Turn Bullish or Bearish?
Here are two possible outcomes:
đą Bullish Scenario (more likely if neckline breaks):
If the price breaks above $3.810â$3.849, it confirms the double bottom.
Expect a potential move to $3.88â$3.92 or even higher short-term.
đŽ Bearish Scenario (if support breaks):
If DOT/USDT falls below $3.727 (24h low) and especially below $3.741, the support breaks.
Then it turns into a bearish continuation, possibly heading towards $3.70 or lower.
đ Additional Notes:
Order book sentiment shows:
đŽ Shorts: 57.09%
đą Longs: 42.91%
â This indicates more traders are shorting right now (slight bearish pressure).
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Final Conclusion:
Pattern Name: Potential Double Bottom
Formed Completely? â Not yet. Needs neckline breakout.
Bias:
â ïž Neutral-to-bullish as long as $3.741 holds.
đ Wait for confirmation above $3.81â$3.85 to go long.
â If breaks below $3.727, expect further bearish move.
{spot}(DOTUSDT)