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Chart Analysis (DOT/USDT - 30M Timeframe)
Trend Analysis:
The price is in a short-term downtrend after rejecting the recent high around 4.55-4.60.
A change of character (ChoCH) is visible, indicating a potential reversal or retracement.
The price has entered a demand zone (blue box) around 4.40-4.42, where a reaction could occur.
Entry Point:
Buy Entry: Around 4.42-4.40 if bullish confirmation appears (e.g., bullish engulfing or strong rejection).
Sell Entry: Below 4.40 if the price fails to hold and breaks down further.
Take Profit (TP):
For Buy Trade: TP1: 4.48, TP2: 4.54
For Sell Trade: TP1: 4.35, TP2: 4.28
Stop Loss (SL):
For Buy Trade: Below 4.38 (to avoid fakeouts).
For Sell Trade: Above 4.46 (to protect against a reversal).
Watch for bullish confirmation in the demand zone for a potential buy setup.
If the price breaks below 4.40, selling pressure may increase.
Set a tight SL and target reasonable profit levels.