Hi guys! DOT really met my expectations from previous post and I would say even more! After the news that Coinbase Ventures backs Acala Network on Polkadot, token DOT made a nice leap, breaking with ease the psychological level of $40 and closing the daily candle above the trend line. Today we see continuation of growth which I believe is based on the news that Chainlink integrates oracle pallet for Substrate, Kusama and Polkadot. This also fulfilled my expectations on LINK which I described here. Currently there are few projects that won the test auction on Rococo which is the final phase before the Kusama auctions. There is a high probability that after prachains launch, tokens DOT and KSM will be listed on Coinbase. In this case I believe we will se a huuuge pump where sky will be the limit. It would be pity to miss these rockets! On chart the situation remains in favor of growth, with Ethereum leading the alts market and setting new highs we could say that the altseason begins! Fasten your seatbelts the ride will be wild! My prediction for altcoin market cap is x5-x10 within the next 2-3 years where we could see a 10 trillion altcap. Screenshot that, I will return to this post when time comes. Now let's get to DOT chart. Here is what we have: Last night closer to midnight, just before the daily closure I checked the DOT chart and saw that generally the market sentiment is bullish and buyers are regaining the yellow trendline with big volumes coming into the market. This can be seen clearly on the hourly chart below. Of course this was a sign for long, so I opened some positions on several exchanges at around $40-41. Now its a bit hard to predict the exact further movement because a lot depends on the news and in these cases TA doesn't work so perfectly. The most important thing is that we are going up. Now according to TA, ideally we would come a bit lower to $40-42 area to retest the trend line from above confirming the break out and continue the growth. However this may not happen as there is a lot of hype around Polkadot ecosystem and any news are pushing the price higher without allowing any dips to anyone. Parachains+Coinbase listing will send the price parabolic!! Of course always keep in mind that Bitcoin is the boss on this market, if BTC crash - 99% of alts will crash.
On the daily chart it looks like we just started moving for the next leg up
This is my trading idea. I am neither a financial advisor nor I urge you to trade my idea.
Always DoYourOwnResearch prior investing your money anywhere!
Always respect risk management!
Always respect money management!
Always make profits!