DOTUSD Elliott Wave Technical Analysis February 09 2023
4Hour
Polkadot / U.S.dollar(DOTUSD)
DOTUSD Elliott Wave Technical Analysis
Function: Follow trend
Mode: Motive
Structure: Diagonal
Position: Wave (5)
Direction Next higher Degrees: wave ((1)) of Motive
Details: The fifth wave is the last wave in the sequence "5". Watch out for the pullback
Wave Cancel invalid level: 4.23
Polkadot / U.S.dollar(DOTUSD) Trading Strategy: The fifth wave is the last wave in the sequence "5", an alert before a correction or trend change. Wait for a correction back in wave ((2)) to join the trend again.
Polkadot / U.S.dollar(DOTUSD) Technical Indicators: The price is above the MA200, indicating an uptrend. The wave oscillators below Zero-Line Bearish momentum
Daily
Polkadot / U.S.dollar(DOTUSD)
DOTUSD Elliott Wave Technical Analysis
Function: Follow trend
Mode: Motive
Structure: Impulse
Position: Wave ((1))
Direction Next higher Degrees: wave I of Motive
Details: The rise of the first wave is in an uptrend, upon completion, the price will retrace again in the second wave, but must not retrace more than 100% of the first wave.
Wave Cancel invalid level: 4.23
Polkadot / U.S.dollar(DOTUSD) Trading Strategy: Polkadot looks like the downtrend is over. And the price is rising at the beginning of an uptrend. Currently, the price has recovered well from the level of 4.2366, but since it is the beginning of the uptrend in the first wave. The price therefore has a chance to correct in the second wave. If unable to cross the MA200 line, watch out for a retracement.
Polkadot / U.S.dollar(DOTUSD) Technical Indicators: The price is above the MA200 indicating a Down Trend. The wave oscillators above Zero-Line momentum are bullish
