DOTUSD.P trade ideas
Polkadot Elliot Wave ABC Correction over. LONGPolkadot Elliot Wave Correction over. LONG target 23-30 next waves.
Polka(DOT). Will it Survive?DOT is a long way from its high of $55, back in 2021. And now, currently, price has been struggling to push higher. With the thought the BTC ETFs being a game changer along with the BTC halving, there was the anticipation that Crypto would sky rocket. But this hasn't been the case. With all other coins getting hit by the current environment Crypto is facing, it stands that DOT is no exception. On the daily chart, DOT price is showing a head and shoulders pattern that could spell a push lower to the $5 lvl and maybe even to the $3.50. Since the FED interest rates seem to be the catalyst for the direction of crypto price so far, any data pointing at FED officials wanting to hold rates for longer (being hawkish) will continue to put pressure on Crypto's price.
Well with this said, how is Polkadot going to survive? There is things going for it that can get it through this rough patch:
-There are around 66 interoperability Cryptos and in that sector, DOT is the #1 coin, followed by Chainlink(LINK) and Cosmos(ATOM). DOT boasts close to a $8.5 billion market cap and LINK close to a $8.4 billion market cap (not too far behind), respectively.
-Amongst all the other Cryptos out there, it sits at #14 out of 10,127.
-Staking is currently at 11.78%, which has risen from 2023 when staking was around 9%, which if held for a year would be more then what some hedge funds can make. So not too bad.
-While not as much PR as some of the more prominent coins out there, it does have PR coming out which shows that it is still relevant
What do I think? I think DOT will survive and will likely drop which would be a buying opportunity. The Crypto Market as a whole is taking a drip (sitting at around 2.37 trillion currently, hitting a high this year in March of around 2.64 Trillion, and all time high of around 2.8 trillion back in 2021) and if price does continue to drop, it may test the support around 2.33 trillion. But majority of cryptos are taking a hit and as catalyst start popping up in favor of crypto, it is likely that DOT will join in this.
Polkadot Next BullRun- Okay now that we got the Bottom ( 4.3$ ish).
- We can try to calculate the highest points for the next bull run.
- i am not in patterns too much but we can see that DOT formed a kind of Cypher Bullish Pattern.
- A resistance was created around 9.80-10$.
- So Polkadot will have to go retest this zone and breakout to climb more.
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- TP Zones :
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- TP1 : 50$ ish (ATH 2021).
- TP2 : 85$ ish (161.8 Fibo).
- TP3 : 200$ ish (Max Fibo 423.6).
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- Like Always :
-- Take your train ticket before the mass.
-- Sell when others rush to buy :D.
Happy Tr4Ding !
DOT - at the beginning of the returnIt seems that Polkadot, the DOT, has made a harmonic pattern. And the downtrend line has broke due to the uptrend wave started by the BTC.
However, be careful since there probably be a retest or pullback down to shake some of the buyers.
$DOTUSDNot financial advice.
COINBASE:DOTUSD
For those familiar with the STRAT on the monthly chart is an inside candle so far looks like bulls want to jump on it but it can go either way. yellow lines bull side, purple lines downside.
Like and follow.
Thanks.
Updat dot /usd analysis by ict price action Tp 1 of dot/usd reached successfully
Waiting for tp2 and .....
Good luck dear traders..
DOT forms Bearish Adam and Eve patternOn the 1 hour time frame, you can clearly see that the recent breakout has formed a Bearish Adam and Eve pattern.
The recent breakout was more of a "Sell the News" event when the SEC tweeted that all of the ETH ETF applications needed to be updated.
If the price action of DOT falls below $7.20 (the likely retest of the breakout against the symetrical tiangle it broke out of...) then the price will testt he next leg down at $6.90.
PolkaDOTDOT seems to be finalizing it's wave (2) of the alleged main motive wave that was started back in Oct2023.
I expect one last dip before the impulsive wave (3) starts.
Getting in the green area would be a good buying opportunity in my opinion.
The best stoploss would be under Oct2023 bottom but breaking the red line seems like a good close stop-loss.
passing the green line without dropping first invalidates my view.
Polkadot: Test of Strength 💪DOT experienced a decline last week. However, we consider this to be primarily part of the internal substructure of the orange wave (iii), which should extend well above the resistance at $8.50. In the short term, further setbacks to our orange Target Zone (between $4.85 and $6.58) are theoretically possible, which is why we are keeping this range active.
DOTUSD approaching a buy zoneHi traders
Let's take a look at DOTUSD chart on 1D time frame.
DOTUSD is approaching a buy zone: 3.60 - 4.00$ which is the area where we expect a heavy accumulation for the next bull market.
Long term target would be around 23 $ which is also an important fib level 0.618
Patience is a key as it may be a slow bleed.
Good luck
DOT in daily chartHello everyone
What is happening in some of Altloins is really weird and I guess it is because they have to take time and wait for BTC to start its next rally.
I mean these patterns for wave 2 are not so common but we should not forget that we are talking about Crypto market with the least liquidity among all other markets so mass psychology can be more unstable than the others.
By the way, if we are near to the next Altcoin Season, so this counting might be correct and DOT has made an Expanded Flat for its wave II cycle.
Another problem I have is the last correction which is not very similar to wave 1 and 2 and might be possible we have one more correction down to more common support level of wave 2.
Thanks
DOTUSD Elliott wave countWatching for evidences wave 2 ended 5.73 and now we start to build the wave 3.
What we want to see before taking action is an impulse to the upside that clears 9.09 and 10.06 levels that will be the wave ((1)) of 3.
Polkadot: Ready For Take-Off! 🛫DOT has been rising strongly since Tuesday, after it had previously re-entered our orange Target Zone (between $6.58 and $4.85). We currently locate the coin in the orange wave (iii) and expect a break of the resistance at $8.50 next. This should then provide further bullish momentum. We anticipate the high of this movement only well above the top of the green wave B.
Dotusd chartSince I posted a chart on the dotusdt pair showing the double bottom and the bearish head and shoulders pattern, I also wanted to post a polkadot idea that showed the bigger inverse head and shoulders pattern thats still very much in play as well. We can see how dot did a very convincing fake breakout above the neckline before dipping back down below it. It’s common for price to go above the neckline multiple times and then back below it in between those times before the actual breakout, usually it doesn’t go this high above the neckline without validating the breakout, but let this chart be a rare example that shows it can happen. We can see that the weekly 50ma in orange and the weekly 100ma in yellow is currently holding double reinforced support and could easily end up being the lowest part of the right shoulder of the inverse head and shoulders. On the previous dotusdt chart that I posted shortly before this one (which I will link to below) you can see the weekly 50 ma is double reinforced support with the top trendline of the channel also suggesting the bottom of the right shoulder may be in. The top trendline maintained support on the usdt pair but we can see price action had dipped below the trendline here on the usd pair and is still currently just below it. Need to reclaim that trendline as support on the usd pair too to help insure we won’t breakdown from the bearish smaller head and shoulder I posted on the usdt pair chart. *not financial advice*
Polkadot (DOT): Are we done yet?We had to reassess the situation with DOT on the daily chart and have concluded that we are still not seeing the completion of Wave (2). Why is this the case? Because the correction downward following what we assume to be Wave (2) is too brief in duration to be considered a Wave 2. However, the upward movement towards Wave B was surprisingly strong. Since we have now fallen below the level of Wave A, and we make no exceptions for Wave 2 as we might for a Wave 4, we believe this represents an overshooting Wave B, which respected the 161.8% level almost to the cent.
We now expect a downward movement that should reach between the 78.6% and 100% levels. Upon closer inspection, we also assume that what we overshoot upward, we'll compensate for downward, a typical characteristic of an Expanded Flat. Therefore, the 78.6% to 100% range is seen as crucial and robust. The low of $3.56 must not be breached, which would be far from ideal. On the daily chart, we also note a Fair Value Gap above, which remains the only gap on this chart. Eventually, all such gaps get filled. The question remains: will we move towards $4.85 or $9.50 first?
Upon closer examination on the 4-hour chart, we've observed a four-wave structure since Wave B. Currently, we are respecting the 38.2% to 50% zone for Wave ((iv)) and remain below it. The scenario we believe in indicates a potential drop to $4.85. The timing is uncertain, and we may see some sideways movement for a while before experiencing a sharper decline. We've reached the 2.618 Fibonacci time zone, indicating a perfect setup for Wave (2). We've missed this by a day, but still anticipate a further decline, remaining within this golden zone.
Additional Fibonacci clusters lend further confirmation, therefore, we expect significant buying volume in the range of $4.85 to $3.56. This would be an intriguing entry point as we are at the end of Wave (2), predicting that the subsequent Wave (3) will surpass Wave (1). The peak of Wave B at $11.88 offers a solid target, potentially making this a very interesting long-term swing trade.
Can DOT see a repeat performance of 2021?Though i haven't spent much time looking into the DOT ecosystem, do we think we can see a repeat of the 2021 performance and break a new ATH, fall short of previous ATH or Burst through it all together to to a parabolic rise???
Curious to see peoples thoughts on DOT
DOT sharp correctiionDOT completed a five wave advance starting in Oct 23 and then put in a high on 14 Mar. Since then it sold off sharply. I suspect we are in wave 4 of c and about to put in an additional low before we can look for an impulsive development on the intraday charts. I'd buy a break above the b wave high at 10.06 (stop under 8.08) , or if new low forms in the next couple sessions then use the wave 4 of c pivot at 8.74 (stop under the new low).
Cryptocurrencies in the bull market scenario (Sideway pattern)Esteemed analysts and traders,
I hope this correspondence finds you in good health and high spirits, prepared to tackle the upcoming week with renewed energy. I extend my best wishes for your continued success in all your business endeavors. It is worth noting that success in trading is largely dependent on the consistent definition and adherence to one's own rules.
As a supporter of the Elliott Wave Principle, I consider this methodology an invaluable tool for market analysis. After three years of personal experience, I have developed my approach by combining this principle with meticulous consideration of different market scenarios. I strive to avoid market surprises by maintaining a range of market prospects, which enables me to recognize the market structure forming with 100% accuracy.
I am pleased to share my analysis with you, with the caveat that I do not provide buy or sell signals. My perspective on idea analysis is entirely impartial, and if my analysis meets your standards, it may serve as a guide to making an informed decision.
For your reference and comparison, I have attached my previous analysis of the same market. All the details of my analysis are clearly labeled for ease of comprehension. Nonetheless, familiarity with the Elliott Wave Principle theory would facilitate an understanding of the analytical idea.
My study of the Elliott Wave Principle took nearly three years, during which my understanding and experience with this invaluable tool have grown. My progress thus far is a testament to the legacy of Ralph Nelson Eliot, whose genius has provided the foundation for my achievements. May he rest in peace.
I express my gratitude for your continued support and kindness, and welcome your comments and critiques.
May my analysis be a valuable asset to your business journey, and I remain sincerely yours,
Mr. Nobody
This is the first analysis of this cryptocurrency
Crazy Buy!! $50I remember back in 2021 everyone used to die for this coin, time for me to buy and sell to the moon!!!
