DOT - Cup 'n handle pattern @weekly, long position to 12$

1月22日

DOT seems to be forming a cup n' handle pattern in the weekly chart, with the handle bottoming at 6$. Expect a good long entry between 6-6.50$ and position a stop loss near 5.8$, with 1-3 take profit exits up to 12$.



As this coin and project always seem to be undermarketed on social media and all the FUD regarding inflation, play with caution with expectations of a moon shot after reaching 12$.

The biggest influential move to happen soon is the confirmation of the People's Bid buying TikTok, which would host all that social media on One Frequency, which is based on Polkadot Chain.

1月22日

注释

Someone asked me about bull run targets for Polkadot.
Fundamentals wise, the Polkadot Virtual Machine (PVM) will only be released around Q3, with it first being released on Kusama during Q2.
My belief is that this bull run will end on June, therefore I don't expect any new ATH for Polkadot during this run.
HOWEVER, if there is a massive DOT bull run suddenly, I want you to pay attention to the impact of inflation on its Market Cap.



From the point of the current price (6.5$) to the highest recorded Market Cap (55$), there is a 445% increase. This means that the same market cap today would equal to just *28.93$*, aproximately half of the previous ATH.
This same logic can be applied to other inflationary coins to predict new "maximum" highs.

My advice, if looking for a DOT moonshot, is to take profit several times between 12-28$ and save a small bag for any price action beyond that.

1月27日

交易结束：到达止损

With all the market having a large dip, the stop loss below 6$ has been reached, with DOT so far dipping all the way to 5.57$.
Therefore, the cup and handle pattern in the daily and weekly chart has been invalidated.
My suggestion is to look for even lower price points of entry until new patterns of consolidation appear.