Polkadot, Decisive Flag-Formation Forms, Upcoming Perspectives!

Hello Traders Investors And Community,

Welcome to this analysis about Polkadot, we are looking at the 4-hour timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. Polkadot recent times has shown up with some serious bearish pullbacks in the structure testing previous supports and holding them now quite marginally this is why the bearish perspective should not be underestimated here as Polkadot did not show a sufficient indication for a solid bullish back-up and continuation, in this case, I discovered a decisive formation Polkadot is forming that will be important in the upcoming determinations, therefore I detected all the important levels and likely destinies ahead the next times.

Structural Developments:
As when looking at my chart now we can watch there how Polkadot is establishing this main ascending-channel-formation marked with the blue boundaries in my chart. Furthermore, Polkadot has the coherent wave-count within the formation with which it already completed waves A to D in the structure and is now about to set up forming the wave E which will finalize the whole wave-count and will run directly into this crucial upper resistance-cluster marked in my chart in red, when Polkadot approaches this cluster it will be highly likely that a bearish pullback will follow up that will first approach the lower-boundary anew and when this does not hold with Polkadot breaking out below it will complete the whole formation as a bear-flag.

Upcoming Determinations:
Polkadot is in a situation where it has not yet validated a full bullish continuation potential this is why it is important to elevate the next times how Polkadot proceeds further in this main formation it is forming as for now it is necessary to do not keep the bearish perspective out of sight and be prepared on the bear-flag to complete because this is a likely scenario at the moment. When Polkadot finishes the bear-flag and continues with the bearishness Polkadot will move on and test the lower-supports marked in my chart in blue, when this happens it needs to be elevated if Polkadot manages a sufficient reversal and back-up again or it just sets up for further bearish continuations, it will be an important and interesting development.

Thank you everybody for watching the analysis, great contentment for everybody supporting, have a good day and good trading, all the best!
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Information provided is only educational and should not be used to take action in the market.