Polkadot is one of my favourite cryptocurrency with strong fundamentals. There is a good trade and entry in the pipeline here. DOT just terminated the first impulse wave on the hourly frame. It is currently sitting just below the reflex point, which is strong resistance and a reversal point. Good signs are pointing that the trend reversal is in play... An inverted Head and shoulder have been completed at the bottom. I expect a retracement now to at least the 0.5 of wave 1 ($15), where I will look into entering a trade. If the conditions are not broken, we will see $20 in few days after completing a major inverted head n shoulder on the 4h frame. This will confirm the reversal, and we should sit on a nice spot for the next bull run. In the short term, this will be a 35% trade. However, there are different target where I will TP ($16.8, $18, $20) each in different percentages.
Just a quick reminder, this is an educational post. It is not intended as financial advice, always DYOR.