DOT has printed a couple of bearish engulfing candles on the 2hr timeframe, nearly consecutive of one another. In addition to that, I am watching a psuedo-SFP (swing failure) shown by the blue line on the chart above.
If we zoom in further to the 1hr, that swing failure isn’t as obvious, but I am leaving it on the chart as that’s still a key level of interest. In addition to that level, the recent push down on DOT has printed an equal low as before suggesting a potential loss in buyer pressure. And lastly, a fib pull on the recent drop shows the key level of interest I am looking at to be very close to the 0.618 retracement.
DOT has printed a couple of bearish engulfing candles on the 2hr timeframe, nearly consecutive of one another. In addition to that, I am watching a psuedo-SFP (swing failure) shown by the blue line on the chart above.
If we zoom in further to the 1hr, that swing failure isn’t as obvious, but I am leaving it on the chart as that’s still a key level of interest. In addition to that level, the recent push down on DOT has printed an equal low as before suggesting a potential loss in buyer pressure. And lastly, a fib pull on the recent drop shows the key level of interest I am looking at to be very close to the 0.618 retracement.