DOTUSDT
I am bearish crypto/risk assets overall in 2022 due to the coming shift in central bank policy. (Rising Rates / Quantitative Tightening)
However, I don't want to blind myself with my own narrative.
The Polkadot daily chart has been printing bullish divergence for 3+ months, and is now setting up for a rally.
MACD is showing bullish divergence, the RSI just printed a bullish swing rejection, and the +DI just crossed above -DI on the DMI.
I slapped a Modified Schiff pitchfork on the chart, which is hugging price nicely thus far.
The previous rally low to high travelled at a 36 degree angle.
I used that angle to approximate target areas on the pitchfork median & upper median lines.
At the very least, Polkadot should manage to get to the median line, approximately ~$44 (Yellow Box)
Less likely, but still possible is a rally to the upper bounds of the pitchfork, approximately ~$110 (Red Box)
I might wait for MA cross before going long, but only time will tell.
For now I'm watching this closely for a long entry.