Hey folks. I hope you are doing well. This is my Current plan on Polkadot (DOT)
I would like to state that I'm very Crypto Market. I believe it is a no brainer and a great time to gather strong assets to build long term wealth. I plan to Dollar Cost Average (DCA) at key supports to bring down my average entry price. Its impossible to determine when or what the exact price will be when the bottom is made, even though I believe we are close, so, thinking in lines as an investor, the best strategy for me is to buy at key supports. I believe if an investor has the correct mindset, they will be rewarded when the bear market ends and the next bull market begins.
I believe its important to limit myself to a handful of good projects that will be around in the future, even though, isn't on my Top 5 list, it is on my Top 10 list, and therefore I plan on allocating 2% of my entire portfolio to Polkadot. If I can under 4 Dollars, my Risk/Reward tilts in my favour.
Something l find interesting is the Bullish DivergenceWeekly Chart
Also notice the Stoch RSIWeekly Chart below. I would like to see the Stoch RSI bottom out before entering into Long Position, but not a deal breaker. I like the fact that Stoch RSI is heading downward.
Once the Stoch RSI bottoms, it can stay theren for a long time
I think by mid 2023 the bottom should in. But Markets can change at anytime, and depending on price action, I may revaluate my position. Nothing is set in stone. For no trader or investor can predict the markets, best that traders or investors can do is to determine the probabilities in which direction it will go.
It is important to note, I have not used any leverage. And not financial advice.
Please take Note: Price Action on Weekly Charts can take some time to play out. Anywhere from a week or two to a couple of months.
