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Polkadot (DOTUSD) Elliott Wave Technical Analysis 9 September 2022


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Elliott Wave Analysis TradingLounge Daily Chart, 9 September 2022, Polkadot (DOTUSD)
DOTUSD Elliott Wave Technical Analysis
Function: Counter trend
Mode: Corrective
Structure: Double Corrective
Position: Wave (Y)
Direction Next higher Degrees: Wave ((2)) of Motive
Details: wave ((2)) is usual y .618 or .786 x wave ((1)).

Wave Cancel invalid Level: 6.0041
Polkadot (DOTUSD) Trading Strategy: Bul 's attempt to push prices higher A break through the key resistance level at 7.74 could be an opportunity to open a long position.

But the price must not reverse below 5.99.

Polkadot (DOTUSD)Technical Indicators: MACD has a Hidden Bul ish divergence, and price has an opportunity reversal.

TradingLounge Analyst: Kittiampon Somboonsod

1622588757_DOTDay.thumb.png.1601d9f14e6f06036b4f66adb1ddbd15.png

 

 

 

Elliott Wave Analysis TradingLounge 4H Chart, 9 September 2022,
Polkadot (DOTUSD)
DOTUSD Elliott Wave Technical Analysis
Function: Counter trend
Mode: Corrective
Structure: Double Corrective
Position: Wave (Y)
Direction Next higher Degrees: Wave ((2)) of Motive
Details: wave ((2)) may be completed and the price building in the sub-wave of wave ((3)) is likely to trade above 9.659 but not below 6.0041
Wave Cancel invalid Level: 6.0041
Polkadot (DOTUSD) Trading Strategy: Bul 's attempt to push prices higher A break through the key resistance level at 7.74 could be an opportunity to open a long position.

But the price must not reverse below 5.99.

Polkadot (DOTUSD) Technical Indicators: MACD has a Bullish divergence, and price has an opportunity for reversal.

619637534_DOTH4.thumb.png.b870b0cd965199e0348a15f501f4248e.png

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