DOT USD Bear M formation on 4 hours

DOTUSD M Formation Short analysis

4 hour chart quite a large M formation since 18 August 2022...
On a larger POV it's formed a major Broadening pattern with a continuation in the process...
Target 1 = $5.76

We are still waiting for a break down but, the momentum is showing a promising crash...

RSI remains below 50 which is negative and bearish...

As I mentioned Altcoins are looking bearish and have been since August 2022...

Less investors are showing confidence and optimism for crypto based on the crypto winter, crashing of the larger coins and uncertainty with the general volatility and liquidity.

I'm bearish with Alt Coins in general on 4 hours...

Trade well, live free.

Timon
Founder, MATI Trader