Image Source: PixabayElliott Wave Analysis TradingLounge Daily ChartPolkadot/ U.S. dollar(DOTUSD)DOTUSD Elliott Wave Technical AnalysisFunction: Counter TrendMode: CorrectiveStructure: FlatPosition: Wave CDirection Next higher Degrees: wave (II) of ImpulseWave Cancel invalid level: Details: Wave II Is equal to 61.8% of Wave I at 5.225Polkadot/ U.S. dollar(DOTUSD)Trading Strategy:
Polkadot overall is still in the period of correction. In the position of wave (II) with a double corrective pattern, the view is for a short-term pullback before rising again in wave (III), waiting for the correction to complete to rejoin the uptrend.Polkadot/ U.S. dollar(DOTUSD)Technical Indicators:
The price is below the MA200 indicating a downtrend. The Wave Oscillator is a Bearish Momentum.
Elliott Wave Analysis TradingLounge H4 ChartPolkadot/ U.S. dollar(DOTUSD)DOTUSD Elliott Wave Technical AnalysisFunction: Counter TrendMode: CorrectiveStructure: FlatPosition: Wave CDirection Next higher Degrees: wave (II) of ImpulseWave Cancel invalid level:Details: Wave II Is equal to 61.8% of Wave I at 5.225Polkadot/ U.S. dollar(DOTUSD)Trading Strategy:
Polkadot overall is still in the period of correction. In the position of wave (II) with a double corrective pattern, the view is for a short-term pullback before rising again in wave (III), waiting for the correction to complete to rejoin the uptrend.Polkadot/ U.S. dollar(DOTUSD)Technical Indicators:
The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bearish Momentum.Technical Analyst: Kittiampon SomboonsodSource: Tradinglounge.com
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