Polkadot (DOTUSD) Elliott Wave Technical Analysis 5 October 2022

Bear Market Efforts The price tends to trade below 5.98, which could be an opportunity to open a short position. but must not pullback above 6.78

Elliott Wave Analysis TradingLounge Daily Chart, 5 October 2022,

Polkadot (DOTUSD)

DOTUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave ((5))

Direction Next higher degrees: Wave ((5)) of Motive

Details: Final decline of the fifth wave

Wave Cancel invalid level:

Polkadot (DOTUSD)Trading Strategy: Bear Market Efforts The price tends to trade below 5.98, which could be an opportunity to open a short position. but must not pullback above 6.78

Polkadot (DOTUSD)Technical Indicators: The price is below the MA200, and MASO line. momentum is bearish.

(Click on image to enlarge)

Polkadot (DOTUSD)

DOTUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave ((5))

Direction Next higher degrees: Wave ((5)) of Motive

Details: Final decline of the fifth wave

Wave Cancel invalid level:

Polkadot (DOTUSD)Trading Strategy: Bear Market Efforts The price tends to trade below 5.98, which could be an opportunity to open a short position. but must not pullback above 6.78

Polkadot (DOTUSD)Technical Indicators: The price is below the MA200, and MASO line. momentum is bearish.

(Click on image to enlarge)


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