Image Source: PexelsElliott Wave Analysis TradingLounge Daily Chart, 1 December 23,Polkadot / U.S. dollar(DOTUSD)DOTUSD Elliott Wave Technical AnalysisFunction: Follow TrendMode: MotiveStructure: ImpulsePosition: Wave 1Direction Next higher Degrees: wave (1) of ImpulseWave Cancel invalid level:Details: Wave 1 may have ended and prices are entering. Correction in Wave 2Polkadot / U.S. dollar(DOTUSD)Trading Strategy: The rise in wave (1) appears to have ended at the 5.876 level and the price is entering a correction period in wave (2), where the retracement of wave (2) is usually at .50 or .618 x volatility. Long Wave (1) Therefore, Theta Token’s trend is still up. A reversal is just a correction to continue the wave (3).Polkadot / U.S. dollar(DOTUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, Wave Oscillators a Bullish Momentum.TradingLounge Analyst: Kittiampon Somboonsod, CEWASource : Tradinglounge.comElliott Wave Analysis TradingLounge 4H Chart, 1 December 23,Polkadot / U.S. dollar(DOTUSD)DOTUSD Elliott Wave Technical AnalysisFunction: Follow TrendMode: MotiveStructure: ImpulsePosition: Wave 1Direction Next higher Degrees: wave (1) of ImpulseWave Cancel invalid level:Details: Wave 1 may have ended and prices are entering. Correction in Wave 2Polkadot / U.S. dollar(DOTUSD)Trading Strategy: The rise in wave (1) appears to have ended and the price is entering a correction period in wave (2), where the retracement of wave (2) is usually at .50 or .618 x volatility. Long Wave (1) Therefore, Theta Token’s trend is still up. A reversal is just a correction to continue the wave (3).Polkadot / U.S. dollar(DOTUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, Wave Oscillators a Bullish Momentum.
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