Polkadot Elliott Wave technical analysis [Video]
|DOT/USD Elliott Wave technical analysis
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Function: Follow Trend.
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Mode: Motive.
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Structure: Impulse.
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Position: Wave V.
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Direction next higher degrees: —
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Wave cancel invalid level: —
DOT/USD trading strategy
Following a significant pullback from $11.653 to $3.472 in a 5-wave bearish impulse (Wave I–V), DOTUSD now shows clear signs of a bullish reversal. This is marked by the formation of a new Wave I. Wave I is advancing toward its potential peak with a key resistance at $4.486. A break above this point could build a strong base for Wave II, leading to Wave III, historically the most powerful in the Elliott Wave cycle.
Trading strategies
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Strategy
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Short-Term Traders (Swing Trade)
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Await a pullback in Wave II.
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Look to re-enter at the start of Wave III.
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- Risk management: –
DOT/USD Elliott Wave technical analysis
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Function: Follow Trend.
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Mode: Motive.
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Structure: Impulse.
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Position: Wave 3.
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Direction next higher degrees: —
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Wave cancel invalid level: —
DOT/USD trading strategy:
After completing a Wave V low at $3.472 on the Daily chart, DOTUSD began forming a new Wave I uptrend. Currently, it is in Wave 3 of Wave I. The next technical target aligns with the 1.618 Fibonacci extension at approximately $4.486.
Trading strategies
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Strategy
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Short-Term Traders (Swing Trade).
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Trade with the momentum in Wave 3.
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Watch for Wave 4 pullback and prepare for Wave 5 entry.
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-
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Risk management: —
Polkadot Elliott Wave technical analysis [Video]
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