As much as I love ADA and think the future is bright - taking emotions out of it and strictly taking technical analysis into account (Elliot Wave) has this coin going to approximately $0.45 - $0.50.
Yellow zigzag lines show daily/weekly (high-level) Elliot Wave - which shows we're in wave 5, the final wave before a reversal takes place.
The green zigzag lines show the inner Elliot wave (4-8hr) of each high-level wave - which shows we're beginning wave 3 (confirmed if we break $0.93 and the bottom red trend line). If broken, this will trigger a selloff that I think goes to approximately $0.50, at which point we'll retest $0.93 resistance and will then retest and have a double bottom around that $0.45 - $0.50 range - in which the trend reversal will begin. I'll be looking for this bottom for a long entry - or will enter long if the upper blue trend line is broken.
Those are my thoughts! Not financial advice.
What are your thoughts?
Yellow zigzag lines show daily/weekly (high-level) Elliot Wave - which shows we're in wave 5, the final wave before a reversal takes place.
The green zigzag lines show the inner Elliot wave (4-8hr) of each high-level wave - which shows we're beginning wave 3 (confirmed if we break $0.93 and the bottom red trend line). If broken, this will trigger a selloff that I think goes to approximately $0.50, at which point we'll retest $0.93 resistance and will then retest and have a double bottom around that $0.45 - $0.50 range - in which the trend reversal will begin. I'll be looking for this bottom for a long entry - or will enter long if the upper blue trend line is broken.
Those are my thoughts! Not financial advice.
What are your thoughts?
Comment:
My idea is still in tact. Will we have one more push lower before a reversal?