Polkadot Elliott Wave technical analysis [Video]
![Polkadot Elliott Wave technical analysis [Video]](https://editorial.fxstreet.com/images/Markets/Currencies/Cryptocurrencies/Polkadot/polkadot-150x150logo-637399979978734311_XtraLarge.png)
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.
Polkadot/ U.S. dollar (DOTUSD) 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.
Polkadot/ U.S. dollar (DOTUSD) Technical Indicators: The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bearish Momentum.
DOT/USD Elliott Wave four-hour chart
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.
Polkadot/ U.S. dollar (DOTUSD) 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.
Polkadot/ U.S. dollar(DOTUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bearish Momentum.
Polkadot Elliott Wave technical analysis [Video]
Author
Peter Mathers
TradingLounge
Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.
