Polkadot (DOTUSD): Don't Miss Out ⏰

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Polkadot #DOTUSD DOTUSD


Polkadot remains a chart of high interest to us, even though we narrowly missed our limit order by 10 cents. Since the near-miss entry and the low at $6, we've seen the development of Waves 1 and 2, and now the question arises whether we're in Wave 3 or experiencing a zigzag correction. However, the latter seems unlikely because we've observed a 3-wave rather than a 5-wave structure moving from Wave (1) to Wave (2) or to Wave C downward, which typically rules out a zigzag scenario.

Should this be the case, we still anticipate our limit order being filled. Surpassing the 78.6% level could indicate we're either in Wave 3 or encountering a possible flat correction. We haven't completely dismissed this scenario yet. If we're indeed in Wave 3, we expect to significantly exceed the $9.6 level or fall well below it, around the 161.8% mark, indicating that Wave (2) has concluded and we're in an upward 5-wave structure.

We'll continue to monitor the situation closely and keep you updated on further developments with Polkadot.

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Polkadot #DOTUSD

*Please cancel the limit order from the last setup ❌

For Polkadot, the daily chart scenario that we could dip again to complete a Wave (2) is not yet off the table. We've encountered resistance in the range of 127.2% to 138%, which is the maximum level for an Expanded Flat. Thus, it remains possible that we might see another dip for a Wave (2), although this seems very unlikely, but it cannot be entirely ruled out. On the short-term chart, we are canceling our last limit order, as the market has improved significantly upwards, and the chart has long since moved on from that scenario. Now, we must consider that we might be concluding Wave 4 in the coming days, or it may have already concluded. This remains to be seen. A Running Flat could be possible, given that Wave 4 has already dipped quite low as A, and we're in a very fast-moving market where a Running Flat could occur. The most likely zone we would target again is $8.57. We shouldn't fall much further below this. Wave 1 still serves as our invalidation zone. If we fall below it, it becomes highly likely that we could return to our entry zone for Wave (2), at which point we would reactivate it and place a long-term entry again.

2H-Chart


1D-Chart

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Polkadot #DOTUSD

Soon we could blow the bullish whistle.
But for DOT (Polkadot), we continue to remain in the possibility to the scenario that we are not yet 100% in an overarching Wave (3), even though it becomes increasingly likely. This is because we have not yet breached the $11 level or the 138% mark. Zooming in, we still expect that we are in a bullish scenario of a Wave 3 and have already developed Wave 4. We mentioned that the only possible new entry point would be between the 50% and 61.8% levels. If the price continues to rise, we anticipate a longer and stronger increase to eventually complete the overarching Wave (3). However, we likely still need a significant amount of upside before reaching that point.