Cardano #ADA has been in a long correction. Is this the bottom? Many indications point to yes but we never really know with Crypto.
- ABCDE Correction formed a falling wedge, usually after E wave we will break the triangle
- Total correction has reached 78% Fib Level, there is not much more support under this range and will fall right down to the 100% retracement if the 78% level cannot hold
- Large support area to the left between W1+2 (Red Rectangle), this gives more support around the 78% level to hold and hopefully bounce off
- Divergence between the candle pattern and RSI pattern, this is another bullish indication as we are trending out of the oversold conditions
- Reversal may take place after a bounce off RSI trend line, as the price trend moved toward the 78% level, the RSI began to trend the opposite way creating divergence which would also show more support at this Fibonacci Level
Please let me know what you think! Feel free to comment and give me a follow Thanks!
Could be. My stop is holding. But don't forget, we do have an 88 retrace still if these hodlr's keep holding tight lol.
nickd534
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@longmoney, looks to be holding up pretty good, as we climb we can raise our stop loss so that we are in profits even if it hits our stop (technically playing with house money)
longmoney
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@nickd534, BTC goin down over here on my count but alts lookins (not all) looking good. ADA for sure
nickd534
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@longmoney, just posted my view on BTC and the 2 possible counts !