Polkadot /U.S.dollar(DOTUSD) Elliott Wave Technical Analysis 23 February 23

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Elliott Wave Analysis TradingLounge Daily Chart, 23 February 23,  
Polkadot /U.S.dollar(DOTUSD)
DOTUSD Elliott Wave Technical Analysis
Function: Follow trend
Mode: Motive 
Structure: Impulse
Position: Wave ((3))
Direction Next higher Degrees: wave I of Motive
Details:  Wave ((3)) is usually 1.618 x length  Wave ((1))  
Wave Cancel invalid level: 5.878.

Polkadot /U.S.dollar(DOTUSD) Trading Strategy: Polkadot has recovered well, managed to break through the MA200 line, it is also a third wave rise. Therefore, the price tends to continue to rise, which Wave 3 is usually equal to 1.618 multiplied Length of wave 1 at the level of 10.602.

Polkadot /U.S.dollar(DOTUSD)Technical Indicators: The price is above the MA200 indicating an UpTrend. The wave oscillators above Zero-Line momentum are bullish.

TradingLounge Analyst: Kittiampon Somboonsod




Elliott Wave Analysis TradingLounge 4H Chart, 23 February 23,  
Polkadot /U.S.dollar(DOTUSD)
DOTUSD Elliott Wave Technical Analysis
Function: Follow trend
Mode: Motive 
Structure: Impulse
Position: Wave ((3))
Direction Next higher Degrees: wave I of Motive
Details:  Sub-wave of Wave ((3)) The price continues its upward trend, any trad does not fall below 5.878.
Wave Cancel invalid level: 5.878.

Polkadot /U.S.dollar(DOTUSD)Trading Strategy: Polkadot has recovered well, and managed to break through the MA200 line, it is also a third-wave rise. Therefore, the price tends to continue to rise above 7.887
Polkadot /U.S.dollar(DOTUSD)Technical Indicators: The price is above the MA200 indicating an UpTrend. The wave oscillators below Zero-Line momentum are Bearish.

[Bella_tcc]

the trading strategy for DOTUSD is to follow the upward trend and maintain a long position, as the price is currently in Wave ((3)) of a Motive trend mode. The technical indicators, such as the MA200 and the bullish wave oscillators, also support this analysis. Let us hope for the best