Polkadot $DOT T): Breakout Retest in Action!

Polkadot has broken out of a descending triangle pattern on the weekly timeframe,

signaling a major shift in momentum. The price is currently retesting the breakout level,

a critical step before potentially launching into the next leg of its rally.

Key Observations

Breakout Retest: DOT is testing the former resistance,

now turned support, at the breakout level.

Bullish Structure: Holding above this level confirms strength and sets the stage for further upside.

Momentum: Indicators like RSI and MACD are turning bullish,

hinting at sustained buying pressure.

Next Targets on a Bounce

If the retest is successful, expect DOT to aim for:

1. $11

2. $16

3. $24

Bearish Risk: A failure to hold the breakout level could see DOT retrace toward $4.50,

providing another entry opportunity for long-term traders.

Trading Strategy

Look for a strong bounce at the breakout level to confirm the retest.

Enter long positions with stop-losses below the support zone to manage risk.

Scale into positions as DOT approaches key targets,

locking in profits along the way.

Outlook: DOT’s breakout is a textbook bullish setup. A successful retest could ignite a powerful rally,

so keep your eyes on the support level and trade the bounce with precision!

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