Polkadot, Sets Up To Test Main Remaining Resistance-Zones!

Hello Traders Investors And Community,

Welcome to this analysis about Polkadot, we are looking at the 4-hour timeframe perspective. Polkadot is not the only cryptocurrency that showed up with these heavy bearish alignments and firstly did not emerge with an immediate reversal in the structure rather it is building an important formational structure with the nuances as I discovered recently. It is highly necessary to distinguish Polkadot from the other cryptocurrencies as the divergence between these cryptocurrencies is highly increasing these times, while there are many building more bearish shapes there are also ones with a more bullish structure, with Polkadot this is currently something in between therefore I detected the decisive scenarios and upcoming perspectives we should consider here.

As when we look at my chart now we can watch there how Polkadot is forming this lower triangle-formation with this coherent wave-count established, this triangle has an ascending lower-boundary and a more flat ascending-upper-boundary which gives the edge for this triangle to a considerable breakout with a wave-E-extension when Polkadot moves on to build up in this structure as it already did before in the wave-count. At the moment we should expect that Polkadot continues with its wave-count in the formation and tests the upper-boundary of the formation after which the crucial part will come with Polkadot either building up further above in this structure or breaking to the downside.

These two scenarios are important and mainly it will be expounding on how Polkadot approaches the upper-boundary-resistance, when this happens in a not that strong bullish manner this can also indicate that Polkadot is likely to draw down and continue its bearish developments however when Polkadot manages to increase bullishness and show up some solid bullish volatilities this actually can be the right origin for the breakout above the upper-boundary which will be the source of the wave-e-extension to the upside. When such a price-action emerges Polkadot will move on and test the main remaining resistance marked in red from where a pullback will likely firstly show up after which further dedications will be made.

In this manner, thank you for watching my analysis about Polkadot and the decisive structure it is forming here with the determining breakout and testing of remaining levels incoming; will be great when you support it with a like and follow or comment, great contentment for everybody supporting, all the best!
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