DOTUSD Elliott Wave Analysis | TradingLounge Daily Chart
DOT/USD Daily Chart Technical Forcast
DOT/USD (DOTUSD) Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Double Corrective
Position: Wave ((Y))
Next Higher Degree: Wave IV
Invalidation Level: N/A
Details: Wave IV is nearing completion, with a potential price drop towards the 2.406 level.
DOT/USD (DOTUSD) Trading Strategy
The current market is in a V wave retracement of wave (C). We are in the final stages of wave C, likely to test the 2.406 level. This points to a short-term retracement before a potential rally resumes.
DOT/USD (DOTUSD) Technical Indicators:
- Price remains below the 200-day Moving Average (MA200), signaling a downtrend.
- The Wave Oscillator shows bearish momentum.
DOT/USD (DOTUSD) Elliott Wave Analysis | 4-Hour Chart
DOTUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Double Corrective
Position: Wave ((Y))
Next Higher Degree: Wave IV
Invalidation Level: N/A
Details: Wave IV is nearing completion, with a potential price drop towards the 2.406 level.
DOT/USD (DOTUSD) Trading Strategy
The V wave retracement of wave (C) is reaching its final stages. The price is likely to test the 2.406 level, suggesting a short-term retracement before another upward rally.
DOT/USD (DOTUSD) Technical Indicators:
- Price remains below the 200-day Moving Average (MA200), signaling a downtrend.
- The Wave Oscillator indicates bearish momentum.
Technical Analyst: Kittiampon Somboonsod
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