53 DOT High Time Frame (HTF) Smart Money Concept (SMC) AnalysisOverview: Polkadot (#DOT) is currently trading at the $5.320 level, marking a significant decline of approximately 93% from its all-time high (ATH). Despite this, #DOT has shown a promising pattern that could signal a reversal and potentially lead to substantial gains for investors. Here’s an in-depth look at the current technical setup, key levels, and potential trade opportunities.Current Market Structure: After experiencing both buy-side and sell-side liquidity capture, DOT’s price tested an overlapping zone, where it eventually retraced, forming a double bottom or equal lows pattern. This technical structure often suggests the potential for a bullish reversal, with buyers stepping in at key levels of demand.Bullish Indicators: Presently, DOT is exhibiting strong bullish signals. The price appears poised to test the previous swing high, targeting external liquidity, which may trigger a continuation of its bullish momentum. If successful, this could pave the way for DOT to retrace towards its all-time highs.Trade Details:Entry Level: $5.320Profit Targets:First Target: $11.880 (potential 123% gain)Second Target: $55 (potential 933% gain)Stop Loss (SL): $3.500Conclusion:While DOT has faced a substantial decline from its ATH, the current price action suggests that bullish sentiment may be returning. By capturing liquidity on both sides and establishing a solid support base, DOT could see a notable recovery, especially if it breaks through external liquidity levels. However, as with all trading setups, maintaining a disciplined approach with well-defined entry, target, and stop-loss levels is essential.Stay updated for further technical insights as DOT progresses towards its targets.Join Telegram: https://t.me/OfficialCryptoPatelFollow Me On X: https://x.com/CryptoPatel
