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DOTUSD trade ideas

DOTUSD: Polkadot Elliott Waves and 2024 PotentialThe Dot is the token of the Polkadot network platform, one of the older generation of crypto currencies. It is touted for Web3 interoperability with cross-blockchain transferability. It has a fairly robust trading history since 2020 with an 2021 all-time high of about USD 56. In the subsequent bear market, it traded down to about $3.50 in the Fall of 2023. It has experienced a resurgence since to upper single-digit dollar prices.
BINANCE:DOTUSD
by unbeldi
1
Polkadot (DOTUSD): The End of an UptrendPolkadot (DOTUSD): BINANCE:DOTUSD Polkadot appears to have completed Wave (2) with a notable level of certainty. Upon further analysis, it increasingly seems we're witnessing an ending diagonal pattern. This indicates the potential conclusion of the current uptrend shortly, leading to a corrective downturn for Polkadot. While Wave 1 could theoretically extend to $12.82, such a scenario appears less probable. The key factor now is whether we can breach the trendline. Should we remain confined within this diagonal pattern, a prompt downward shift may be expected. For Wave 2, our strategy involves repositioning within the 50% to 78.6% Fibonacci retracement zone. Yet, we must wait to detect any signs of weakness in Polkadot before making our move, as navigating decisions amidst its ongoing bullish momentum presents a considerable challenge.
BITFINEX:DOTUSDLong
by freeguy_by_wmc
4
Polkadot (DOTUSD): Don't Miss Out ⏰Polkadot #DOTUSD BINANCE:DOTUSD Polkadot remains a chart of high interest to us, even though we narrowly missed our limit order by 10 cents. Since the near-miss entry and the low at $6, we've seen the development of Waves 1 and 2, and now the question arises whether we're in Wave 3 or experiencing a zigzag correction. However, the latter seems unlikely because we've observed a 3-wave rather than a 5-wave structure moving from Wave (1) to Wave (2) or to Wave C downward, which typically rules out a zigzag scenario. Should this be the case, we still anticipate our limit order being filled. Surpassing the 78.6% level could indicate we're either in Wave 3 or encountering a possible flat correction. We haven't completely dismissed this scenario yet. If we're indeed in Wave 3, we expect to significantly exceed the $9.6 level or fall well below it, around the 161.8% mark, indicating that Wave (2) has concluded and we're in an upward 5-wave structure. We'll continue to monitor the situation closely and keep you updated on further developments with Polkadot.
CRYPTO:DOTUSDLong
by freeguy_by_wmc
2
Leap into Success: Why Going Long on DOTUSD is a Winning Move!Just like many other cryptocurrencies, DOTUSD presents fantastic opportunities on the long side! The strength of the bulls shines through with the clear divergence between price and volume during the recent sell-off. The bears literally threw everything but the kitchen sink into the ring to push DOTUSD lower, but they fell far short of even getting close to the lows of late February 2024. Like a coiled spring, the price is primed to shoot upwards any moment now. This is an exciting chance for us to enter the market long with a great risk-reward ratio. Let's seize it!
BINANCE:DOTUSDLong
by Ochlokrat
1
PolkaDot #DOTUSD: Long-Term AnalysisCryptocurrencies are experiencing challenges post the Bitcoin ETF release, a predicted event that didn't act as a Buy-like catalyst for the market. It serves as a reminder that not all assets surge after such an occurrence. Despite this, the current phase presents an intriguing opportunity, particularly for PolkaDot. PolkaDot has shown a somewhat delayed response since the low at the end of last year compared to its counterparts. An overarching Wave (1) has formed, and we are currently entering Wave (2). This correction is anticipated to range between 61.8% and 78.6%. A dip below this range would strongly suggest that it might not be Wave (2), and the correction could extend further below the $3.64 mark. However, if a turnaround occurs within this range, we foresee a minimum upward movement reaching $15.5 🔥
CRYPTO:DOTUSDLong
by stromm_by_wmc
1
✴️ Polkadot Headed Toward $22, Followed by $36 (ATH $144)Polkadot (DOTUSDT) has entered the bullish zone; says who? ➖ On the left side of the chart we have a market correction or bear-market. ➖ On the middle portion of the chart we have an ending diagonal or consolidation phase. ➖ On the right side of the chart we have a new bullish impulse, a 5-up wave or bullish phase. A major bullish development is the break as resistance and close above EMA100 on the weekly timeframe. On the daily timeframe we would say that a close above EMA100 signals medium-term growth potential being confirmed. Weekly this signal is 7X stronger, so we can say that long-term growth potential has been confirmed. 👉 The next target is $22 followed by $36. There will be much more in 2025 and late 2024. The next All-Time High can reach $144. (A rough estimate of course. We will go deeper into the numbers as the bull-market develops.) Remember to boost! Thanks a lot for your continued support. Namaste.
CRYPTO:DOTUSDLong
by AlanSantana
3
DOTUSD BINANCE:DOTUSD DOT formed an upward sloping accumulation structure and entered an uptrend in the price channel after large investors performed the final shakeout (Spring) to shake off small investors at the bottom of the price channel. This accumulation structure shows that the strength of the Buyers is overwhelming the Sellers. That gives investors the right to hope for a scenario of a strong Break out of the price channel and into an Uptrend. When a breakout event occurs, buying is a reasonable choice. However, to be more certain, investors should wait for the confirmation event (BUEC - Back Up To The Edge of Creek) at the upper edge of the price channel.
BINANCE:DOTUSDLong
by Dzung-Dang
2