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Polkadot Elliott Wave technical analysis [Video]

Polkadot Elliott Wave technical analysis [Video]
Peter MathersPeter MathersTradingLounge

DOT/USD Elliott Wave technical analysis

Function: Follow Trend.

Mode: Motive.

Structure: Impulse.

Position: Wave V.

Direction next higher degrees: Wave (C).

Details: The five-wave falling in wave V.

Five wave V retracement, the final wave of wave C before resuming the uptrend. We expect the price to drop to test the 2.227 level, so the overall picture is still a short-term decline before resuming the uptrend.

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

DOT

DOT/USD Elliott Wave technical analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave V

Direction next higher degrees: Wave (C)

Details: The five-wave falling in wave V.

DOT/ U.S. dollar (DOT/USD) Trading Strategy: Five wave V retracement, the final wave of wave C before resuming the uptrend. We expect the price to drop to test the 2.227 level, so the overall picture is still a short-term decline before resuming the uptrend.

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

DOT

Polkadot Elliott Wave technical analysis [Video]

Author

Peter Mathers

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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