Polkadot Elliott Wave technical analysis [Video]

DOT/USD Elliott Wave technical analysis

• Function: Follow Trend.

• Mode: Motive.

• Structure: Impulse.

• Position: Wave V.

• Direction next higher degrees: —

• 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

• Strategy

  • Short-Term Traders (Swing Trade)

    • Await a pullback in Wave II.

    • Look to re-enter at the start of Wave III.

• Risk management: –

DOT/USD Elliott Wave technical analysis

• Function: Follow Trend.

• Mode: Motive.

• Structure: Impulse.

• Position: Wave 3.

• Direction next higher degrees: —

• 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

• Strategy

  • Short-Term Traders (Swing Trade).

    • Trade with the momentum in Wave 3.

    • Watch for Wave 4 pullback and prepare for Wave 5 entry.

• Risk management: —

Polkadot Elliott Wave technical analysis [Video]