DOT Zones: Falling Wedge Breakout Incoming?

Here we are looking at DOTUSD on the Daily TF…

For this analysis, we will keep it brief as the chart here is very simple.

As you can see we are in a falling wedge which consists of downwards sloping resistance and a descending line of support. The descending line of support stretches all the way to the lows (at the time) made back in July of 2021. Every time DOT has tested this line, it has bounced (so far), but we will continue to monitor the charts as the space between support and resistance continue to squeeze closer.

What do you think DOTUSD will do next? Let me know in the comments!

Cheers!