If you do find it useful and informative hit that like button, i really do appreciate that, if you happen to be new to the channel, then why not go ahead and subscribe tap that bell select all notifications and in doing so you will be kept up to Date with absolutely everything that we do here at cheeky, crypto with all that said, done out the way lets dive right into this technical analysis on polka dots, so were going to start things off guys with this daily chart. Okay, so, and what i really want to talk about, is the recent kind of push that weve had to the upside and what we might be expecting to see happen next for polka dots. So its been a couple of days since i last did a video, and this is basically where we were talking about getting rejected from our 618 and going down to our 33 um support level. Okay and what were seeing today is a push to the upside and im going to go through what we might expect to happen for the rest of today and going into sunday before monday comes around, and obviously i dont think we are likely to push up and Im going to show you why i think this, i think, actually were more likely going to have another correction, not a deep one, but enough to maybe bounce from the 618 and im going to go through that in a moment with you guys.

But overall – and we have a good kind of uh correction from the previous high that we had up in may, okay and obviously going all the way down in that fourth wave correction to the 20th of july. This uh current performance that weve seen has allowed us to put this fibonacci retracement tool on there, where we do see a 4.236 extension coming in at 177. Okay, so, basically thats kind of our price expectations for polka dot. For this bull run, as we finish things off towards the end of the year beginning of next year: okay, so, basically just taking in the previous high the low of our fourth with correction and a good push to the upside. Now, obviously, once we get past the m618, the 702, the 786 on the charts, okay, these are the key technical areas for polka dot and that basically comes in. If i actually get my prices right for you guys, because im going to try to get better actually calling out these prices, for you guys so 34.77 is the 618 and then, as we go up, the 702 is 38 and 15 cents and then obviously the main Area that we want to get that close candle above comes in at 41.40, okay, so that 41.37 technically, is the 786 area of the chart right so thats, the one that were looking to get that closed candle above and that would then take us into new all Time highs uh, where the first price target thats associated with that is 74.

19. This is the 1.618 area of the fibonacci retracement tool. Okay, the second extension: the 2.618 comes in 113 and 64 cents, okay and the third 3.618 comes in 153, with the 4.236 is 177. So theres good price expectations with pokedol, and i do think this ecosystem is just heating up. Ive said this a few times already, but our inbox is absolutely full of projects that are looking to launch on the polka dot ecosystem and are looking for promotional content. Now, obviously, we turned down 99.9 of promotional content. We dont like to do it unless weve actually done a lot of research on those projects and obviously understand everything inside and out before we communicate it across to you guys. Obviously, my point here is that, although we might reject a project, other youtubers other influences across the space might not reject those projects and therefore theres going to be an influx of promotional content hitting not just youtube. But you know twit twitter tick, tock, face to uh facebook, you name it um across the social medias and so with that will come as worry of new uh retail investors or you know, etc just trying to dive into polka dot as a whole right. So i am expecting some kind of uh surge in the coming weeks and months for polka dot, and i do expect some good price discovery on the back of it. But with that being said, and now it does not appear to be the time i am anticipating a small pullback and im going to go through that with you in just one moment now, unlike many of these other altcoins that are actually showing um a cup and Handle we dont have the same kind of luxury here when it comes to um to polka, dot, okay, theres a sloppy cup and handle, i guess you could say um, but again its not something.

I would be confident in looking at them in this particular angle, uh. The left hand side is far too low than the right hand, side and the handle it hasnt really come down deep enough to really be considered a good enough kind of push to the upside. So, overall, i think outside of that cup and handle kind of perspective. I do anticipate a good search towards the upside um, but we first will have a bit of a battling going on just up here within those key areas: okay, so again the six one, eight or thirty, four dollars, um the uh 702 at 38 – and of course, The main area that we want to get a close candle above of 41.37, the 786. okay. So now we have a good grasp of the daily chart. We obviously know that theres, a good pullback that i think many people are aware of and theres allowing us to buy a polka dot at a much cheaper rate. And if i just pull this back down and say this correction just here and then obviously a good surge uh in august to the upside the month of september was the the month of corrections. We saw that, and now we started to push back to the upside and were tackling a real key area. Now the fibonacci retracement tool is obviously quite good to kind of give us a good area of resistance and support um, as these are areas that are heavily traded by professional traders or day traders etc.

And so these resonate really well with them. So its important that we obviously acknowledge them, but not always um, are we going to stop on these levels and not always are we going to find support or resistance here? Instead, there may be other areas that are in forming different kind of patterns that could also work for us and were going to go through some of that as well. Now the stochastic rsi is overbought, so we should be expecting to either stay up here in the oval area like we were previously in the month of august, when we had this good push to the upside um or well have to pull that down a little bit. Okay and those are the two ways now – we can, of course, wipe out this momentum of our stochastic without actually doing too much damage to the price. You can see this uh on the chart right now right. We basically take the price from 29 down to 23 and we completely take that stochastic down from overbought to oversold okay and then we can obviously grow back to the upside. So, although were overbought, this has some uh. It can be something that we actually stay up in the oven area for quite some time um and when we uh do need to have that pull back and uh. We basically can take that momentum out of the project without doing too much price damage. As long as the sentiment is good and its at this point that im going to bring up the avid.

io dashboard, okay for those who are unfamiliar links in the description below as always sign up, is completely free and youre. Going to get more insight on your cryptocurrencies. In this particular case, we are taking a look at polka dot. The overall rating for polka dot is a b1 rating. This basically means its on the cusp of being in the the top tier and is quite you know, far away from the worst levels right. So its looking pretty good now, above and beyond, just the uh generalized um rating, we can go down into some detail. These are what they call power factors of i here we have an amihad ratio: okay, and this is an a2 rating, so the second best rating that this platform can give it. Basically, it goes from a1 down to d a1 is the best d. Is the worst right um, so an a2 rating for the amihad ratio, the amihad ratio represents your liquidity. Is there a problem with liquidity with an a2 rating is indicating there are no issues with liquidity for polka dot right now, so this is looking pretty good. Okay, as we come down, we can see a sharp ratio. Another a2 rating, the second best rating that you can get and the sharp ratio represents your risk, reward ratio and so right now, with an a2 rating well above the 50 day average, the rewards significantly outweigh the risks when it comes to holding polka dot right.

So if youre holding polka dot, you should be pretty comfortable in seeing a sharp ratio thats looking quite favorable okay. So this is a key metric. Thats obviously well worth being uh paying attention to, because um youre going to want to know your tolerance to risk and obviously this risk reward ratio in the sharp ratio is going to be fantastic. For you to understand whether or not holding polka dot is actually looking. Pretty good or pretty bad – and this is again artificial intelligence, led with machine learning, no human intervention whatsoever and gets updated every 24 hours so, like i said, sign up check it out and youre going to be able to basically keep a daily eye on various different Things like your risk, reward ratio, liquidity based problems, profitability, moving averages, etcetera right and now over here. On the right hand, side we have a fear and greed index, not the bitcoin view and greed index, not a generalized one. You see in the space, but a fear in greed index that is specific to polka dot and polka. Dots, fear and greed index is a rating of d and, as i said previously, a1 is the best d. Is the worst, therefore theres an extreme amount of fear in the space for polka dot right now, which is incredibly odd and its odd, because we have an a2 rating for our risk reward ratio? Okay, our risk reward ratio is indicating that actually, you might want to have exposure to polka dot, because the rewards outweigh the risks.

Yet we have an extreme fearful situation where people are willing to sell their polka dot at a discounted rate thats. The kind of fear that i like to buy okay, so its important that we acknowledge that the fear and greed index for polka dot is an extreme fear. That also has an implication to the charts and were going to get into that in a moment, but obviously sharp ratio means that basically youre able to understand that uh holding polka dots, pretty good uh. According to the artificial intelligence of machine learning of, i and uh people are wanting to sell polka dot right now. So you know you put those two things together and kind of you know come up with a pretty good, sensible conclusion. Now, as we move down a2 for the moving averages, the moving average for polka dot looks pretty good, no issues with that either as we come on down, and we can obviously see that we have a profitability and roi of an a1. So again, looking pretty good there and the peak and value demand at b2 pretty neutral, no issues with that either. So the only thing thats out of place here is that theres an unreasonable amount of fear for polka dot right now. Everything else is lined up pretty good for polka dots. So when we jump back to the charts – and we can see that were pushing up towards our 702 were overbought on our daily, what is going to happen next in the next few hours? Well, lets.

Take a look um, let me just get rid of that for a second ill, bring this up for you, and so we obviously do have some interesting areas right were pushing uh. We found our support level like we said previously uh a couple days ago and that were going to come back down towards 33 dollars. It seems like a sensible area to be bouncing from thats why we drew this up and then basically weve now gone up. We found the resistance on the six one: eight okay, thats – that thirty uh four dollar range. Okay, we pushed through it now were approaching the 702, but were heavily overbought right now, and we know that theres extreme fear in the space. Now, if we throw the volumes on here, we can already see that the volumes have been increasing as we push the price up, thats, really helping push us up towards our 702. Now the volumes have started to drop down were losing momentum as we approach the 702. The anticipation here on my expectations, i should say, is that were going to reach the 702 or just fall short of it and then pull back towards our 618. But this time, instead of the 618 being a resistance block, were going to turn it into a support line, and so basically, what were looking for now, if i actually just go back up to my daily just to get that 702, so its a set of 38 Dollar range: okay, and if we go back into our hourly, we can see and im just going to mark this up.

So let me just grab a horizontal ray and well just mark up our 38 range right so and ill just change that into orange okay. So i think that we are more than likely going to push up towards our 702, if not find the for short just short of it and then pull back to our 618 turn that into a support level. So it could look something like this and then we break through it back test on the 702 before having an attempt at the 786 or that 40 uh was it 40. Let me just find it one sec. I want to get my numbers right guys. I want to get my numbers right, so 41.37, okay and so its important that we obviously acknowledge what is potentially on the horizon. Now now um with the volumes looking like theyre dropping back um. That basically means that were going to run out of momentum. We can still go up, but obviously were going to plateau and then fall back down because we are overbought, so my expectations will be that were fined. Um, you know, hit the 38 range, pull down to the 34 range and then bounce up past 38. Overall thats, the kind of expectation i do see here until that sentiment in the market shifts and were actually able to utilize our stochastic more efficiently and actually have a significant push to the upside. But i do think were only really days, maybe a few weeks away from really pushing past the 786 and going into new all time highs and things on polka dot are definitely heating up now and everythings coming together quite nicely for this ecosystem.

So overall um do expect a little bit of volatility until that kind of fear in the market dissipates – and this is mainly driven just from bitcoins indecision as to whether or not its going to go past its area of 786, which is basically 57 and a half K and if we do push past that with bitcoin, i think thats enough to really get the market moving once again to the upside in a really good, confident way until bitcoin has that move. I think people are really hesitant to get back into space right now and as a result, you see this unreasonable amount of fear in the space for various different projects, including polka dot here and its obviously understanding that theres fear here. That enables us to take advantage of that as we continue the growth to the upside overall, we can buy that fear. We can buy the polka dot at a discounted rate and continue the growth to the upside overall and, as we come back to our daily guys, we obviously do have those price expectations where we are talking about moving up to 177 overall, and everything is moving up Nicely towards that goal, but do expect a little bit of volatility until that sentiment does change guys. Im gon na leave the video there, but hopefully you have found it useful and informative if you have hit the like button.

https://www.youtube.com/watch?v=yMrRtcAGQHY