🌞 Update market [4/12] [DOT]. 💵
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📉 Technical analysis & Momentum (H1 frame):
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The DOT/USDT chart shows a very potential "Bottom Reversal" setup as the sellers have completely exhausted:
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Stoch RSI indicator hit the floor: This is the most important signal. Both Stoch RSI signal lines have flattened at 0.00 (Absolute oversold zone). This indicates that selling pressure has reached its maximum and cannot push the price down further without a recovery bounce.
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Psychological support: The price is holding steady around the 2.322 area after a long decline. The sideways movement with a narrow range indicates that supply and demand balance is being reestablished.
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Strategy: The thick red Kumo cloud above signals that the medium-term downtrend has not ended, but a short-term (Scalp) bounce up to test the Tenkan-sen line is quite feasible.
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👉 Mindset: Buy on the bounce when the indicator hits 0.
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RECOMMENDED POSITION
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🟣 LONG ENTRY: 2.315 - 2.330 (Current price area).
🛑 SL: 2.260 (Stop loss if the price breaks the nearest support low).
🎯 TP1: 2.380 (Re-test the Tenkan-sen and Kijun-sen lines).
🎯 TP2: 2.450 (Bottom area of the red Kumo cloud).
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This article only suggests market information, not an investment call! #DYOR #NFA $DOT
