DOT/USD Elliott Wave technical analysis
Function: Counter trend.
Mode: Corrective.
Structure: Flat.
Position: Wave C.
Direction next higher degrees: Wave (II) of impulse.
Details: Wave II is equal to 61.8% of wave I at 5.225.
DOT/USD trading strategy
Polkadot overall is still in the period of correction. In the position of wave (II) with a double corrective pattern, the view is therefore for a short-term pullback before rising again in wave (III), waiting for the correction to complete to rejoin the uptrend.
DOT/USD technical indicators
The price is below the MA200 indicating a downtrend, the wave oscillator is a bearish momentum.
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DOT/USD Elliott Wave technical analysis
Function: Counter trend.
Mode: Corrective.
Structure: Flat.
Position: Wave C.
Direction next higher degrees: Wave (II) of impulse.
Details: Wave II is equal to 61.8% of wave I at 5.225.
DOT/USD trading strategy
Polkadot overall is still in the period of correction. In the position of wave (II) with a double corrective pattern, the view is therefore for a short-term pullback before rising again in wave (III), waiting for the correction to complete to rejoin the uptrend.
DOT/USD technical indicators
The price is below the MA200 indicating a downtrend, the wave oscillator is a bearish momentum.
DOT/USD Elliott Wave technical analysis [Video]
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