Elliott Wave Analysis Daily Chart, August 7,   DOTUSD 

Function: Reactionary(Counter Trend)

Mode: Corrective

Structure: Flat

Position: Wave (C)

Direction Next higher Degrees: wave ((2)) of Motive

Details: Retracement of wave ((2)) usually .50 or .618 x Length wave ((1))

Wave Cancel invalid level: 4.26

DOTUSD Trading Strategy: We are considering the Corrective of wave ((2)) green which usually finds retracement between 50 - 61.8% of Wave ((1)), When wave ((2)) ends the price increase again in wave ((3)) and the price rising above 5.228 is a signal for the new uptrend.

DOTUSD Technical Indicators: The price is below the MA200 indicating a Downtrend, Wave Oscillator = Bearish momentum.

Elliott Wave Analysis 4H Chart, August 7, DOTUSD

Function: Reactionary(Counter Trend)

Mode: Corrective

Structure: Flat

Position: Wave (C)

Direction Next higher Degrees: wave ((2)) of Motive

Details: We are considering ending wave ((2)) from rising above 5.2288 level.

Wave Cancel invalid level: 4.26

DOTUSD Trading Strategy: we considering the Corrective of wave ((2)) green which usually retracement between 50 - 61.8% of Wave ((1)), When wave ((2)) End the price increase again in wave ((3)) and the price rising above 5.228 is a signal for the new uptrend.

DOTUSD Technical Indicators: The price is below the MA200 indicating a Downtrend, Wave Oscillator are Bearish momentum.

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