Polkadot reverse pattern from resistance area

DOTUSDPolkadot cryptocurrency recently reversed down from the resistance area located between the resistance level 18.75 (which has been reversing the price from the end of February) and the upper daily Bollinger Band. The downward reversal from this resistance area stopped the earlier minor short-term impulse wave 1 – which belongs to wave (C) from last month.

Given the strength of the current downtrend and predominantly bearish sentiment that can be observed on the cryptocurrency market – DOTUSD prices can be expected to fall further toward the next support level 15.85 (which has been reversing the price from the middle of January) .

DOTUSD - Primary Analysis - Mar-18 1250 PM (1 day)

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