My current count has us working on a triangle for the 4th wave. Triangles commonly occur before the final 5 wave move of that degree, so as long as we don't brake down here we can expect one more push higher.
this also suggests that a very decent short opportunity is coming soon but we will cross that bridge when (and if) we get there.
On ADA we have had very nice institutional price action... ATM there is plenty of IPA marked in my purple boxes and I predict this to go up till that zone I've marked with my White Line....
What will it do after determines on the structure it makes before comming up to this zone.
It is Bullish over all and I do see the price coming back to those highs... Its just...
looks to me like ada is close to completing a Flat correction.
if we assume that its completed 5 waves up on the higher degree, then we have a conservative count that at least would give us an ABC for the X before the next leg down.
the bullish outlook would have the flat complete the 4th and begin a new impulse for the 5th, but i'm not betting on that count...
ADA has put in a very nice low at the 0.5 fib, completing the wave 4.
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Trade Duration: Medium
Cardano is a decentralized public blockchain and cryptocurrency project and is a fully open source project. Cardano is developing a smart contract platform which seeks to deliver more advanced features than any protocol previously developed. It is the first...
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Cardano is repeating the same pattern that led to the last retracement at the start of April. The Timings of the waves are almost exactly the same in the lead up (3 days up, 9 days down, 5 days up, followed by a week of contracting highs and lows before a break out).
We're currently just after the 9 days down and I expect that we'll see the price climb over the...
- Structure: Sideway
- Double top and bottom
- The pirce closed above support
--> Given double bullish candle
- Minor trend: Downtrend is broken.
- Higher high forming
- The price is pullback
--> Given signal Buy