DOT/USD Elliott Wave technical analysis
Function: Counter Trend
Mode: Corrective
Structure: Double Corrective
Position: Wave ((Y))
Direction next higher degrees: Wave II
Details: The decline of wave Y is likely to end and the price is re-entering the uptrend.
Polkadot / U.S. dollar (DOTUSD) Trading Strategy: It looks like the wave 2 correction is complete and the price is still likely to move up. Look for an opportunity to join the wave 3 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 one-day chart
DOT/USD Elliott Wave technical analysis
Function: Counter Trend
Mode: Corrective
Structure: Double Corrective
Position: Wave ((Y))
Direction next higher degrees: Wave II
Details: The Decline of wave II Beware, a drop below 3.566 will break the uptrend.
Polkadot / U.S. dollar (DOTUSD) Trading Strategy: It looks like the wave 2 correction is complete and the price is still likely to move up. Look for an opportunity to join the wave 3 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 four-hour chart
Polkadot Elliott Wave technical analysis [Video]
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