Polkadot (DOT) is crazy long today!

Hi all!

Let’s continue our analysis of altcoins that have the potential to reverse ahead of the entire crypto market. Yesterday I told you that ADA was about to end the bear market, today I found DOTs that have almost the same or even stronger bullish bias!

Let’s look at the 1W DOTUSDT timeframe chart. On the weekly chart, the signals are very strong, but may take several months to materialize. I assume that this asset is now close to the ideal entry point in the medium and long term. First of all, I want you to pay attention to the clear Elliott wave structure. The entire bear market globally consists of ABC waves. Waves A and B have a zigzag abc structure, and wave C has a wave 12345 structure. Looking at the very strong divergence, I can conclude that wave 5 is about to end. What does it mean? This means that the downtrend for this coin is nearing its end. Now is the perfect time to start accumulating long-term/medium-term cryptocurrency assets.

Classic TA also shows us a good buying opportunity. The 1W demand zone is extremely strong support. This is not just an abstract line that should stop a dump for no reason – it is something that major players in the market are keeping an eye on in order to have the best entry point. Moreover, note the decline in volume during a bear market. This means that the bears have become weaker every week and very soon they will not be able to hold new lower lows. I have already bought DOT without confirmation because it is a fundamentally strong asset that is not likely to be susceptible to fraud.

Best regards, Ivan