Falling wedge patern with decreasing volume Polkadot to 16$
Hello traders, after having made a long research i think that dot could make a very strong move to the upside due to the falling wedge pattern that printed on daily time frame.
In my opinion it looks really bullish, but not only for the falling wedge on daily, it has also descending volume witch is a confirmation sign and means that to see an increase on volume it's a matter of time.
It has already performed a success full breakout and a retest and now it is trading above of the upper trend line of the falling wedge.
It is likely for it to go to 16$, but anything is sure in the market so i will keep moving the stop behind the key levels. It will be more likely to reach higher prices if it manages to surpass the exponential moving average of 55 on daily around 8.6$ witch is too a resistance.
If will be glad to see what do you think in the comments and if you agree with me push the like button.
In my opinion it looks really bullish, but not only for the falling wedge on daily, it has also descending volume witch is a confirmation sign and means that to see an increase on volume it's a matter of time.
It has already performed a success full breakout and a retest and now it is trading above of the upper trend line of the falling wedge.
It is likely for it to go to 16$, but anything is sure in the market so i will keep moving the stop behind the key levels. It will be more likely to reach higher prices if it manages to surpass the exponential moving average of 55 on daily around 8.6$ witch is too a resistance.
If will be glad to see what do you think in the comments and if you agree with me push the like button.