Polkadot/U.S.dollar(DOTUSD) DOTUSD Elliott Wave Technical Analysis Function: Reactionary(Counter Trend) Mode: Corrective Structure: Flat Position: Wave (C) Direction Next higher Degrees: wave ((2)) of Motive Details: Retracement of wave ((2)) usually .50 or .618 x Length wave ((1)) Wave Cancel invalid level: 4.26
Polkadot/U.S.dollar(DOTUSD)Trading Strategy: Polkadot recovered well from the 4.266 level and was able to form a strong five-wave structure, giving Polkadot the opportunity to form a new uptrend. The price is currently in a phase of correction in wave 2. Wait for wave 2 to complete to join the trend again.
Polkadot/U.S.dollar(DOTUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, Wave Oscillator are bullish momentum
Polkadot/U.S.dollar(DOTUSD)Trading Strategy: Polkadot recovered well from the 4.266 level and was able to form a strong five-wave structure, giving Polkadot the opportunity to form a new uptrend. But even so, the price is still below the MA200 line, giving the price a chance to face selling pressure. So watch out for resistance at the MA200 line
Polkadot/U.S.dollar(DOTUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, Wave Oscillator are bullish momentum
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