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Elliott Wave Analysis TradingLounge Daily Chart, 3 February 2023

Polkadot /U.S.Dollar (DOTUSD)

DOTUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave ((1))

Direction Next higher Degrees: wave I of Motive

Wave Cancel invalid level: 4.23

Polkadot /U.S. Dollar (DOTUSD) Trading Strategy: The rise of the first wave is in an uptrend, upon completion, the price will retrace again in the second wave, but must not retrace more than 100% of the first wave. Gives us the opportunity to join the trend again. Wait for the second wave to finish.

Polkadot /U.S. Dollar (DOTUSD) Technical Indicators: The price is below the MA200 indicating a downtrend. The wave oscillators above Zero-Line momentum are bullish.

Analyst: Kittiampon Somboonsod

Elliott Wave Analysis TradingLounge 4H Chart, 3 February 2023

Polkadot /U.S. Dollar (DOTUSD)

DOTUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure: Flat

Position: Wave (C)

Direction Next higher Degrees: wave I of Motive

Wave Cancel invalid level: 4.23

Polkadot /U.S. Dollar (DOTUSD) Trading Strategy: The rise of the first wave is in an uptrend, upon completion, the price will retrace again in the second wave, but must not retrace more than 100% of the first wave. Gives us the opportunity to join the trend again. Wait for the second wave to finish.

Polkadot /U.S. Dollar (DOTUSD) Technical Indicators: The price is above the MA200, indicating an uptrend. The wave oscillators above Zero-Line Bullish momentum.

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