Reasons DOT is now undervalued:
1. Trendline support since Sep 202 was hit on 1/10/22 at the $22.20 bottom.
2. ABC wave (4) correction since 5/10/21 is probably finished at the $22.20 bottom.
3. 4.236 Fib extension potential of the intermediate waves (2), (3), and (4) is $221.40, about 8x the current price.
4. ATH of $56.22 should be obliterated in minor wave 3 of intermedate wave (5) in a few months.
1. Trendline support since Sep 202 was hit on 1/10/22 at the $22.20 bottom.
2. ABC wave (4) correction since 5/10/21 is probably finished at the $22.20 bottom.
3. 4.236 Fib extension potential of the intermediate waves (2), (3), and (4) is $221.40, about 8x the current price.
4. ATH of $56.22 should be obliterated in minor wave 3 of intermedate wave (5) in a few months.
Note
Sep 2020 was meant in reason #1
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.