Polkadot: 2-Hour Chart Analysis

Let's take a deep dive into the Polkadot DOTUSD 2-hour chart. We may have already completed Wave (2). However, there's a possibility of a further descent to the 61.8 or 78.6% retracement levels. This wouldn't be surprising, given that it's quite brief for a Wave (2) in the time-based Fibonacci zone. Despite this, the overall chart still appears predominantly bullish and suggests we might have initiated a trend reversal.

🌊 Potentially, we should watch for a subordinate Wave 2 soon, which would lay the groundwork for an overarching Wave (3). Nevertheless, this Wave (3) seems to be in the distant future, with a target of at least near $16, which is considerably far off. It's entirely feasible that we'll see this in the future.

The key question is...when? Will we see it immediately, or will there first be a pullback that goes deeper, possibly filling our overarching chart limit order at $5.87? Only time can tell, be patient, we will keep you updated

Comment:

I think we are on the right way, as Wave 2 evolves. Now we only have to see a trend reversal again at our anticipated levels.