Polkadot DOT Price News Today – Technical Analysis Update Now, Price Now! Elliott Wave Analysis!

Polkadot DOT Price News Today - Technical Analysis Update Now, Price Now! Elliott Wave Analysis!

Foreign Video about polka dots so my view has Not changed to the last video Um in that we haven't seen the low yet There was obviously a chance because we Made a new low so if you look at the um If I zoom out a little bit to the four Hour chart the chart made obviously a New low against the June low And then a child like this always has a Chance to move higher and to create a New possible you know bullish Foundation However it has failed so far and I still Think we're gonna see a new low that Would change above a certain level we Talk about that in the video Um Yeah so at the moment and Um at the moment at the moment my view Is actually that this year I still Labeled that as a wave one I need to Change that that was the original Bullish scenario because we had a Bullish and a bearish one on the chart Um then here most recently that was he It actually looked like it was starting To break out but it would have had to Hold here this um the green Target box Which it didn't and as soon as it broke Out of the channel it came down Basically crashing and due to FTX it Yeah led to a new low and um this has Sort of changed here the overall um Dynamics on the chart and we counted in

A way that we say this was a wave one Down Here we had a wave two up that was Around eight dollars we came down in a Way three We've moved up into four And we know that this by the way a Diagonal pattern and we're coming down In five so that means we are basically At the moment In the last wave of this bear Market but This already or this also has five Waves so In that we can say Just think Yeah so that we Um That we have the internals here That's and we say okay we had here one Two then came down in three this year At the moment you could say this was a Wave 4 which was at around six dollars And 19 and DC is currently away five but the Way this currently looks like to me Suggests that Wave 4 was maybe not Finished yet so we can move away for Possibly here as well but only really if We break above that high of 67 6.17 Um I'll leave it here for now because This could still be just a one two sort Of ending diagonal as well Um there's different ways of counting This now the the whole point I try to

Make here that because there are Different you know different ways of Counting this whole thing Um The point I'm trying to make is that This move to the upside Is not really any evidence that the law Is already in so I have to assume that This is still coming down the way this Is behaving suggests it is still a way For yeah so I'm nearly leaning towards Putting the Wave 4 here the reason for That is Um that this is just a long Consolidation sideways movement it's a Bit boring you know it's sort of Sideways and you often get that in a way Four Um and this is how it would look like so We could say here we have an A B C three Wave structure at the moment yeah and Ideally in the way four you would then Like to go a little bit higher but we Don't have to Um there's different ways kind of Counting this so the sub waves aren't Too relevant here I mean what I'm what I'm possibly thinking is here in this Way five the way five might have already Started and you have here one two three Hero4 and we make one model and a five Depending on how low that will go but Really anything below that most recent Low is relevant is possible

5.30 so anywhere below that ideally I Would like to see the price because what Is happening here at the moment is also Not very convincing don't get me wrong This could already be the beginning of a Breakout pattern but I won't really Um consider it as long as we stay below The 6.18 level if we now carry out an Impulsive breakout to the upside out of This channel to the upside break Above This high from the 10th of November then It's a really good indication that the Low is already in then we can explore That further until then due to the sort Of bare flag nature of this structure I Would rather be focusing on the downside And evidence that we are breaking down Would obviously a move out of the Channel and then a break of the most Recent swing low here at 5 45 if we go Below 545 I think we're also going to Break the 530 level Or 5 35 it is and then come down even Lower in terms of Target possible Target For that last leg down well you can take The length of the wave one here add it To The wave four high depending on where it Is but let's just choose the high here And then the first Target would be 5.11 And the second it's the one to one ratio And the second target would be 445 the 1.618 extension and yeah basically at The moment we have here this strong move

Down as well looks quite impulsive to be Honest if you consider and check you Know if you compare that to the ethereum Chart it doesn't look that impulsive That latest move down Um it's less steep you know Doesn't look that bad it doesn't look That strong here it came down really Nearly in a straight line so You know here I I'm still not convinced That the low is in you know it could be But then I want to see further Evidence The chart would need to convince us Um but even if we go above this high at What did I say 6.18 it's not really Evidence it's the first indication the Low is in but then we would need to move Higher and ideally also break above that 7.41 level Okay and that's my update about Um polka dots hope you like the update If you did please hit the like button Leave a comment and subscribe and if you Really like the content then please Check out the channel membership thanks A lot for watching bye Thank you

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