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In this article, we share our latest analysis of polkadot (DOT) that we previously shared in our advanced group. Don’t you own this cryptocurrency? Then we have good news: you too can benefit from the price drop. We explain how to do this below. If you’re not yet a member, or after reading this article and still have questions, try our Premium Membership for free for 30 days.
Technical Analysis DOT Price
Bitcoin (BTC) has stalled this week, consolidating around its current price of $23,000 since the weekend. Polkadot (DOT) has still been able to rise significantly in recent days, but it looks like the price has now reached the expected resistance area.
Crypto Insiders analysts shared with senior members last Friday that DOT will encounter resistance just below $7. It seems so now. Although the price may be slightly higher in this area, a correction is expected soon:
“We see that DOT is forming a 12345 Elliott Wave pattern and will soon enter the resistance zone between $6.50 and $7. This is the area where we expect the fifth wave to end.
We also expect the pattern to act as the interior wave 1 of the larger 12345 Elliott Wave pattern. This means we may see a downside correction to form a second wave of the pattern.
Once the second wave is complete, we expect strong growth again. As soon as we can better visualize that wave, we’ll share it in a new analysis in the Premium environment. “
The analysis was shared with members on January 20. In our Premium environment, analytics are typically shared 48 hours in advance, so they may be slightly out of date.
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Disclaimer: Investing involves risks. Our analysts are not financial advisors. Always consult an advisor when making financial decisions. The information and tips presented on this site are based on our analysts’ own insights and experience. Therefore, these are for educational purposes only.
Source of information: Compiled from CRYPTO-INSIDERS by 0x Information.The copyright belongs to the author Wessel Kersting, and shall not be reproduced without permission