PolkaDot DOT Needs To Crash More

Hello, Skyrexians!

As you know, globally we are very bullish on DOT and our previous analysis on the weekly time frame is still valid, but locally it still has not reached the bottom. Current value of fear and greed index is extreme fear and it will not allow DOT to drop immediately, some bounce is anticipated, but after that bears can take control again.

Let’s take a look at the daily chart. We can suggest you this Elliott waves counting, may be it’s not 100% correct, but the only one thing we need to know. The drop, which we have seen on February 3 was the wave 3 according to minimum Awesome Oscillator value. While it has not crossed zero line price is in wave 4. Yesterday we had a chance to finish this night mare, but price is pumping again and it looks like it’s going to reach $5.50 max and then continue printing wave 5 to the final target $1.9-$3.2. The key points for reversal is the appearing of green dot on Bullihs/Bearish Reversal Bar Indicator [Skyrexio] and divergence on AO.

Best regards,
Skyrexio Team

Trade easy with Smart tools

Utilize AI-enhanced SmartBot for automated decisions and SmartTrade terminal for tailored manual trades, all in one integrated platform.

Similar blog posts

Hello, Skyrexians! Recently we have already told that potentially ETH has been finished the correction and is ready to reach $7-10k, but today we recalculated waves and can tell that

Hello, Skyrexians! It’s time to update SUI idea. Last time we pointed out that wave 3 has been finished and correction incoming. Now we are seeing this correction. Today we

Hello, Skyrexians! In the era of memecoins when everyone is talking about PEPE, DOGE and HMSTR we have the quite meme W which is now at the very low prices

Hello, Skyrexians! Time to update BTC huge analysis. Market became bigger and it needs more rime to form bull and bear stages. Now everyone is waiting for the bear market

Hello, everyone! Earlier we made analysis on Bitcoin Dominance where pointed out that it can reach 66% before altseason or reverse from 62.5%. Now it looks like we can see

Hello, Skyrexians! Recently, when the BTC price was below 80k we told you that reversal will come soon and 140k is next, but this correction can lasts longer, than we