POLKADOT, Major Descending-Triangle, How It Completes!Hello,
Welcome to this analysis about Polkadot on the 12-hour timeframe perspectives. In recent times the Cryptocurrency market showed up with some interesting developments, for now there are still mixed signals in the market therefore it is important to look at the different setups the Cryptocurrencies are forming. When looking at my chart we can watch there how Polkadot emerged with this massive descending triangle formation in which it has a coherent wave count with the waves A to C almost already completed. Now with the development of wave D Polkadot is forming this bear flag formation which has a high possibility to complete in the near future which will show up with the origin of the wave E to finalize the whole wave count. Once this wave E emerged it will be decisive on how Polkadot approaches the major lower support level marked in my chart, if Polkadot bounces off this level appropriately this has a good ability to complete the whole descending triangle with a breakout above the upper boundary as shown in my chart, once completed activation of the initial target zone will happen and once this target has been reached with Polkadot having the appropriate momentum to continue the next target zone will be appointed as seen in my chart. For now, it will be necessary to await the confirmation before moving to further conclusions, it will be an interesting development ahead.
In this manner, thank you for watching the analysis, all the best!
"Trading effectively is about assessing possibilities, not certainties."
Information provided is only educational and should not be used to take action in the markets.
