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DOTUSD trade ideas

Is DOT perhaps in Elliott Wave 3 of an impulsive move?I'm not a financial advisor, not giving financial advice. This is my first published idea on TV, and I'm doing it primarily to learn rather than teach/explain. I'm still getting comfortable with counting Elliott Waves, but so far, I think I have a good sense for it. With that said, I hope you'll read this description and share your thoughts on what I've proposed... I went to chart DOT against Elliott Wave theory on the weekly, originally thinking it was in wave 4 of an impulsive move (like I've counted BTC and many other coins to be in). So I went to the daily chart to count the "minute" daily waves within each weekly "minor" wave, but I couldn't find a verifiable 5-wave minute impulsive structure to fit inside of the minor impulsive wave 1. Which means I need to recount (can't force it). So I got to thinking...maybe DOT isn't currently in wave 4, it's in wave 3 ?? (!!!!!) Here's my wave count on the weekly chart: - You can see wave 2 retraces to just past the .786 Fib level from the beginning of wave 1 - The lengths of waves 3 & 4 were determined using Fibonnaci levels as well, with the length of wave 3 = 1.618 x length of wave 1, and wave 4 = .382 retracement level from beginning of wave 3 *above measurements all fall within reason under Elliott Wave theory It's a little messy, but you can also see the relationship the price action has with the 20 MA (colored green or red based on whether price is above or below it). Price stayed above 20 MA for all of wave 1. Wave 2 was triggered as price moved below the 20 MA. And now wave 3 has traded above the 20 MA until today, where it looks to be barely holding the line. It will be interesting to see if this weekly candle closes above or below the 20 MA. A close below followed by continued downward movement could negate my wave count. Also take note of the upward trend on the RSI 14 that started back in May. Would love to hear thoughts from other Elliott Wave charters. Are my counts reasonable or do you see it differently?
BINANCE:DOTUSD
by cbury10
It's time to load up on Polkadot!Hello everyone! It's been a while since a major correction on $DOT. What a bull run, huh? $DOT was up as much as 410% since it's lows in mid-July. So should you go ahead and get some now that it is down 20% from its initial highs, or should you shave off these gains? I'm here to help you out. Technical analysis $DOT has formed a beautiful uptrend which continues to show signs of strength. Given the fact that crypto went mainstream, I think that such a promising coin with a lot of innovation has quite a chance of reaching new all-time highs. ( Currently, Polkadot is 8th biggest cryptocurrency in the world by market cap ) Innovation behind Polkadot Relay Chain: The base Polkadot chain is the relay chain that connects all these individual chains. As such, they can organically solve interoperability issues between these connecting chains. Parachain: This stands for parallelized chains that run through the Polkadot network. These help scale up the system by parallelizing operations. Bridge Chain: This chain connects different blockchains that don’t use Polkadot’s governance protocols. Trading plan The general idea behind an uptrend is to buy at the support zone and sell at the resistance zone. And that's what I want you to do. I think it's a great time to enter a long position. In case of a breakout to the downside, use a stop loss. I would recommend setting it 3-5% bellow your entry price. Hope this helps. Feel free to leave a comment down below. See you soon, in the next one!
COINBASE:DOTUSD
by LeTraderRytis
DOTUSD - Update to Long-Term Channel with Battling ArcsIn my last analysis, I said that if DOT breaks back into the smaller bearish arc after breaking out and then retesting, it would invalidate my target of $95-120 by year's end. That invalidation happened in the last dip, and today we see a possible second break to the upside of the smaller bearish arc, putting the original bullish scenario back into play. I extended the parabolic arc out a bit, and both scenarios are still in play. I would look for $50+ as a confirmation of the upside target, and a failure to regain $50 in November as a confirmation to the downside. My bias is still bullish on the crypto market and DOT in particular. I'm looking for a break of $50 by the end of the month and a fast move upwards towards $95+ thereafter. Good luck and enjoy.
KRAKEN:DOTUSDLong
by funtimes
Polkadot Schemei never been a moon boy but i like to predict hope. Everything is always depending on theKing but if we get a new bullish impulse before next year, DOT could follow his master this way. Remember to manage your invests, Don't go all in, follow BTC movements, keep money to rebuy in case of fail. The Key is yourself. This chart is still conservative in the numbers to reach. -------------------------------------------------------------- Trading Parts -------------------------------------------------------------- TP1 = 75$ ish TP2 = 100$ ish -------------------------------------------------------------- Happy Trading
KRAKEN:DOTUSDLong
by thecryer
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