Hello everyone!
I started counting waves on this pair last week, and has just finished.
ADA has turned bullish and has possibly completed 4 waves out of 5, it is currently in wave 2 of 5 sitting right on 0.618 level.
I expect Cardano to break out resistance and moon hard in wave 3! 1416-1530 zone is where I see the next massive retracement after the triangle break out.
There are no special announcements in near time, but there is a Blockchain Conference with ADA speakers and expect them to say something promising, in case if I am right with my technical analysis assumptions. Also have a look at MACD that shows a divergence, and two MA crossing up.
However, if we take waves theory outside, The best move for ADA/BTC to prove start of uptrend is falling down to 1000 satoshi and then boom. That way a perfect IHS pattern will form and the price will start a strong bullish move.
Summing up, I advise you to buy on retracement after the breakout of triangle 1/4 of total position, then increase it by another 1/4 on 1279, then look close for price action aroung 1320-1350 levels and buy the rest.
Rejection of this scenario is break of 1117 support.
I started counting waves on this pair last week, and has just finished.
ADA has turned bullish and has possibly completed 4 waves out of 5, it is currently in wave 2 of 5 sitting right on 0.618 level.
I expect Cardano to break out resistance and moon hard in wave 3! 1416-1530 zone is where I see the next massive retracement after the triangle break out.
There are no special announcements in near time, but there is a Blockchain Conference with ADA speakers and expect them to say something promising, in case if I am right with my technical analysis assumptions. Also have a look at MACD that shows a divergence, and two MA crossing up.
However, if we take waves theory outside, The best move for ADA/BTC to prove start of uptrend is falling down to 1000 satoshi and then boom. That way a perfect IHS pattern will form and the price will start a strong bullish move.
Summing up, I advise you to buy on retracement after the breakout of triangle 1/4 of total position, then increase it by another 1/4 on 1279, then look close for price action aroung 1320-1350 levels and buy the rest.
Rejection of this scenario is break of 1117 support.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.