Polkadot (DOTUSD): The race begins now!Polkadot (DOTUSD): BINANCE:DOTUSD
For Polkadot, we are setting our entry on the daily chart for a potential Wave 2. We expect it to reach between 61.8% and 78.6% because we don't believe the correction has been completed yet. We're leaning towards the idea that we're dealing with a Wave ((a)), as a closer look suggests we're seeing a five-wave downward correction, indicative of a potential zigzag correction for the Wave ((b)). Therefore, we shouldn't see too much upward movement before another downward movement occurs. The exact turning point in Wave ((b)) remains to be seen, but our scenario is clearly set between $10.85 and $11.30. Anything above that would require a closer examination, but we should not exceed this range. Then, we should move down to $8.24 to $7.25 to complete our overarching Wave 2. For Wave 3, we then expect a rise to at least $21.65, which represents a very significant increase with a very favorable risk-to-reward ratio.