Polkadot DOT – Bullish Momentum?? | Polkadot Price Prediction

What’s up guys it’s frank here from Altcoinbuzz to give you the technical Analysis that you look for in this Market to break things down in a simple And accessible and easy way for you to Understand today of course we are Looking at polka dot currently in 12th Place has seen 9.1 growth over the past 24 hours One of the highest growing alt coins Over the past 24 hours along with Cardano and tron but of course the Question is will this continue as we Have seen a lot of blood over the past Several months a 75 Dump almost so is this the bottom that Is the question that i’m going to be Answering in this video by giving you a Detailed analysis on everything from the Monthly to the four hour time frame guys Stay tuned until the end of the video I’m gonna give you a price prediction I’m gonna give you three scenarios in Terms of how the price could play out And which one i think is the most likely And i’m even going to give you a trade Setup potential trade center setup that You can enter if you choose to long this Market now for those of you who don’t Know altquin buzz is first and foremost A crypto investment research company and We have been providing you numerous 100 X returns since 2017. so if you want to get in on that

Action join our al quinn buzz access Group where we document up-to-date Research covering undervalued altcoin Gems nft minting opportunities and our Portfolio strategies so click the link Up above or down in the pin comment Section below to take part in the action Today please also don’t forget to like Subscribe and click the notification Bell so that you don’t miss any future Updates and finally please note that None of this is financial advice [Music] Okay so here we are seeing a very Similar pattern which we’re seeing Across many altcoins which is that the Monthly chart is in an uptrend now polka Dot unlike a few of the other charts That we’ve seen is very very close to The previous monthly low of about 10.4 Dollars so this is a very critical point In the in the time here in at which Polka dot needs to show strength needs To show signs of a potential reversal Now as i mentioned we have a 75 Retracement from the all-time high now Let’s have a look at the previous time We had a retracement we had look at this We had 78 79 percent and then after that We really saw the bottom here at around This 10 mark and then from 10 we had a 320 Move up so it’s just to show you that You know when we see these kind of 60 70

80 retracements in the market in Altcoins that’s the time to really be Looking you know for reversals so let’s Go down to the lower time frames to see What signs of any we are seeing of Potential reversals so on the weekly Chart we are seeing that we had a wick Taking us down to the 14.05 level back On the 21st of february and now on the 25th of april we saw a low of that week We saw a low where we tested that Support again and we’ve had two lower Wicks here bringing us back up so this Is a sign that this market structure This previous support that we had could Be valid and that we could see a Reversal from here in addition we are Officially out of the weekly downtrend When we broke the 23.26 level we broke the previous high So we had a high and now we have Potentially a higher low but of course We are not yet officially in an uptrend Now when it comes to the rsi we’re Seeing something interesting look at This line 39.55 This marks a spot where multiple times In the past we’ve touched it or come Close to it but we haven’t broken this Support line on the rsi so this is a Good sign that the bearish momentum is Slowing down on the weekly time frame And that we are potentially at a bottom Considering that we are very very close

To this rsi okay before i get to the Daily and four hour charts to give you The price prediction and a potential Trade setup for dots for polka dot tell Me what do you think do you think we Will break the 14.05 Level if you do type in bearish if you Think that this is the bottom and that We are now going to see a reversal of The uptrend then type in bullish okay Now on the daily chart we are seeing a Very important pattern one of the Patterns i mentioned at the beginning of The video that you need to be looking Out for this is a descending wedge so What does this mean this means that if We break bullish from this descending Wedge we are likely to see quite a move Up in terms of price and of course this Is a bullish pattern so we are looking For a bullish breakout that being said We are still within this pattern and There’s still a possibility of us Touching this bottom trend line before We have another move up now remember how We saw the weekly rsi bottoming out of 39.55 Well the daily rsi has also found Support multiple times at the 27.8 Or just above it and as you can see we Tested this 27.8 so again a sign that The bearish momentum has reached a peak And that we are likely slowing down now In terms of bearish momentum not a sure

Sign that we are reversing but certainly A sure sign that the Bearish momentum is slowing down now i’m Going to take you down to the four hour Time frame where we can really look to See what is happening because neither The daily nor the weekly chart are in an Uptrend but the four hour is in an Uptrend as you can see here ever since The 30th of april we have started a new Trend in the four hour which is this Uptrend so the question is can we Maintain this uptrend well first of all Let’s have a look at some of the good Signs the one of the good signs is this Bullish volume which we saw on the 4th Of may we haven’t seen this much bullish Volume for Well two weeks now at least so this is a Good sign that we are potentially Reversing we had this diagonal Resistance on the rsi which we broke out Of another good sign and we can see the Macd histogram is growing in momentum so Again it looks like things are looking Up on the four hour time frame so before I show you the trade setup and my price Prediction for polka dot usdt i want to Show you the major support levels that We need to be watching out for so on the Four hour here we are seeing the 14.56 Level this is marked a double bottom on The four hour will be a very important Level to watch out for if you are

Entering a trade here then of course we Have the 14.05 dollar level which if we just zoom Out a bit here you can see that it marks The previous weekly low so again a very Very important level for us to hold on The weekly time frame and then finally The last level is the 10.37 dollar level This marked a very very important pivot Point and of course the previous monthly Low Okay taking us back to the four hour now So the resistance so the most immediate Resistance is the 18.21 Level this has marked a previous high And previous low in terms of market Structure but the most important reason For why this is a Resistance is that we’ve seen a lot of Price action within the 18 to 18.8 Dollar region so you can see that marked By these blue and yellow bars here which Are the volume profile only available on The official Professional version of trading view and If we go to the daily chart you can see Going back here that this red line marks The most trading volume within that Range so this ranges at the middle of it Is about 18.09 But in general everything between the 18 And the 18.8 dollar region are important Resistance so that is what i have marked

As the first initial resistance to get Above the second resistance is the 19.66 dollar level this is marked by the Daily High the previous daily high that we’ve Seen we need to break that to break the Daily downtrend And then finally of course if we go to The weekly chart we can see the Relevance of the next resistance which Is the 23.85 Level this of course would break the Weekly downtrend so as you can see we Have several resistances which are Important to break before we can confirm That there is a reversal okay now i Found this interesting idea on Trading view for dot usdt and this is Called the bat pattern this is actually An alternative version of the bat Pattern i’m not going to go into detail Explaining what it is but you can see That there is a pattern here which has Been Discovered by scott carney in 2001 and It has this x a b c d pattern and it Seems that this is lining up for a Reversal this is a reversal pattern So it’s a good sign that we are Potentially going to reverse from here In addition to that as i mentioned we Have the Descending wedge pattern here so these Are two signs that we are potentially

Reversing here but of course we do need Confirmation and the conservative trader Will be looking for confirmation before Entering a trade here that being said if You were to enter a trade here is the Setup i would Take so we i would go on the four hour Time frame because the four hour is in An uptrend and i would be looking to Enter If and when we reach approximately the 15.6 dollar level why because then we Can have a stop loss sort of just below The Previous double bottom which is likely Going to be an important support and we Can say okay the first resistance that We would likely see is around the 18 Level this would give us almost a two to One On this trade which is not bad that Being said i would be betting for a Reversal here as well so i’d probably Take half of my profits here and let the Rest of the trade play out to Potentially hit higher levels such as The 19.66 dollar level which of course would Give us a three to one On our investment that is a potential Trade i’ve actually got an alert set for This 15.6 dollar level because if we do Get to that There is an interesting trade setup here

That being said this is a high risk high Reward we are basically betting that This is the very bottom so it’s not a Trade Which i’m very confident in but because We have a decent risk to reward that’s The most important thing that you know You get a good risk to reward on your Trades even if we lose this trade 50 of The time we would still make a profit But again please note this is not Financial advice All right now finally let’s get to the Price prediction Okay so i see three scenarios and i’m Going to tell you the one scenario which I think is the most likely one scenario Is that we actually find support here on This four hour and we don’t break below The double bottom maybe we trade within This Descending wedge that i talked about and Then we break out of it and then bam we Start a new uptrend although at the very Beginning obviously we would find Potentially very likely some resistance Around the 18 level that’s scenario one Now scenario two is that we come down Here we actually break the support and If we do break the support i think it’s Quite likely that we will actually see a New low we’ll even break the daily Support because this will really make People lose faith in this market however

There is the possibility that we have a Sort of Rather quick an explosive move down to The approximately 13 level in any case Anywhere along this diagonal line and Then find support there and go on to Break out of this Descending wedge which again remember is A bullish pattern and finally the Third scenario which i see again i’m Going to tell you which one i think is Most likely third scenario the third Scenario is that we really continue the Weekly downtrend and that we we break Hour support we break the daily and then We come all the way down to test Potentially somewhere close to the Previous monthly low of 10.37 Or maybe this descending wedge plays out And it’s a bit more extended before we See another move up But note how all three of these Scenarios leads us to having a reversal And why is that because the monthly Chart is still in an uptrend this is What i always try to tell you guys it’s Important to look at the bigger picture Because when the monthly chart is in an Uptrend then we have a bullish bias now Of course the weekly chart is not in an Uptrend now the weekly chart is Currently not in an uptrend nor a Downtrend we have broken the downtrend As i mentioned at the beginning of the

Video but we do not yet have an uptrend So there’s a lot of uncertainty when it Comes to the weekly chart All right so back to those three Scenarios which one do i think is the Most likely i’m going to say that the Two most likely are that we Either find support at the 14.55 level Or the very least don’t break that Support and the second most likely Scenario is that we find support below That approximately the 13 to 12 region Before reversing and finally i think the Least likely scenario is that we break All those supports and come down towards The 10.37 Level let me know what you think of Those Scenarios you can type in the comment Section below which one do you think is Most likely number one which is that we Hold the four-hour support number two Which is that we break the daily support But then find a reversal immediately Afterwards or number three that we Completely smash through the daily Support and have several more weeks of Bearish price action before we move up All right guys that’s been it from me For today if you want to see some of my Other trading videos you can check out Cosmos i covered atom just a couple of Days ago so check that video out if you Want to see more trading analysis

And with that being said guys I’ll see you in the next one [Music]