DOT/USDT: Elliott Wave Setup - Potential Rally to $9.60-$13.60

Polkadot (DOT) Daily Elliott Wave Long Setup: Targeting Key Resistance
Polkadot (DOT) | Timeframe: 1 Day (1D) | Exchange: Coinbase

Current Price (approx.): $4.60 - $4.80 (as of May 24, 2025)
Market Cap (approx.): $7.3 Billion USD

Analysis:

Based on my Elliott Wave analysis on the 1-day timeframe, DOT appears to be positioning for the next significant leg up within its broader structure.

Trade Setup:

Trade Type: Long
Entry Zone: $3.80 - $4.80
Expected Target Range: $9.60 - $13.60
Invalidation / Stop-Loss: $3.23 (Crucial level for the Elliott Wave count)


Rationale (briefly):

This setup anticipates a strong bullish move for DOT, supported by the specific Elliott Wave count and the defined invalidation point. The entry zone aligns with current price action, offering a potential re-accumulation area before the projected rally.

• Your Elliott Wave count (labeling the waves you are trading).
  
• The entry zone ($3.80 - $4.80).
  
• The target range ($9.60 - $13.60).
  
• The invalidation level ($3.23).
  
• Any supporting technical observations (e.g., trendlines, support/resistance, indicators) that led to this setup.
  

Risk Management:

Always implement proper risk management. This trade idea has a clear invalidation point at $3.23. A break below this level would negate the bullish Elliott Wave count and necessitate exiting the position.

Disclaimer: This is not financial advice. Elliott Wave Theory is subjective and can be interpreted differently. Always conduct your own research and manage your risk. Cryptocurrency trading is highly volatile and carries significant risk of loss.