Polkadot Elliott Wave technical analysis [Video]

Elliott Wave Analysis TradingLounge Daily Chart,

DOT/ U.S. dollar(DOTUSD).

DOTUSD Elliott Wave technical analysis

Function: Counter Trend.

Mode: Corrective.

Structure: Double Corrective.

Position: Wave ((Y)).

Direction Next higher Degrees: Wave IV.

Wave cancel invalid level:

Details: Wave IV is likely to be completed and price is likely to drop at 2.406.

DOT/ U.S. dollar(DOTUSD)Trading Strategy:

This is a V wave retracement of wave (C), where we are in the final stages of wave C, which is likely to test the 2.406 level, so the overall picture is a short-term retracement before another rally.

DOT/ U.S. dollar(DOTUSD)Technical Indicators: The price is below the MA200 indicating a Downtrend, The Wave Oscillator is a Bearish Momentum.

DOT/ U.S. dollar(DOTUSD)

DOTUSD Elliott Wave technical analysis

Function: Counter Trend.

Mode: Corrective.

Structure: Double Corrective.

Position: Wave ((Y)).

Direction next higher degrees: Wave IV.

Wave cancel invalid level:

Details: Wave IV is likely to be completed and price is likely to drop at 2.406.

DOT/ U.S. dollar(DOTUSD)Trading Strategy:

This is a V wave retracement of wave (C), where we are in the final stages of wave C, which is likely to test the 2.406 level, so the overall picture is a short-term retracement before another rally.

DOT/ U.S. dollar(DOTUSD)Technical Indicators: The price is below the MA200 indicating a Downtrend, The Wave Oscillator is a Bearish Momentum.

Technical analyst: Kittiampon Somboonsod.

DOTUSD Elliott Wave technical analysis [Video]