Polkadot going strong!! 12 days of white candles in a row!

2021年8月8日

Morning Folks,

Here is Polkadot/ Usdt.

This one is going strong.. we see a strong uptrend in the daily and 4 hour chart

The daily chart shows us 12 days of consecutive bullishness.. in a row!! Wow that's massive.

The 4 hour chart tells us we are In constructing the 5th of the Elliot impulse waves. Count the waves + the sub waves.

The question is where will it end?

I see it possible to end somewhere between $25/26.-

There is only 1 but!!

Check the RSI. is showing some kind of divergence..

The RSI isn't making any new highs while the price is making new highs.. That's divergence and that is something to be careful for.
It could mean we have reached the top and that the 5th wave of the Elliot is ended here and we are ready to decline In price.

Otherwise we will make higher highs with the price and we tend to neglect the RSI..

Lesson 1 in trading ; Always go with the trend. The trend is your friend. Well that trend is definitely up!!