cardano is creating reversal head & shoulders
its trying to break up for a 1-1 extension for wave 2. (ABA correction pattern complete )
sell on a 5 sub wave pattern until we reach target wave 2. accumulating more and more until we reach the exit.
set your sell orders HIGHER and keep rebutting 1-2% dips to increase volume.
ada is forming a retrace ABC pattern to the 0.786 fib sitting at 2200 sats.
wave 1 consisting of 5 sub wave along with abc correction pattern complete ( target hit 2450 sats ).
currently forming a head and shoulder reversal
needs to hit 2400 & smoothly push 2500 to grab a lot of buyers.
target on wave 2 will hit 3000-3200 if the above occurs
fiat ...
updated chart on the 240 ( 4hour )
cardano has bounced off the 0.78 retrace level as previous with last 2 corrections.
dmi-adx has confirmed break out on daily and 4 hour chart.
mac D - showing positive breakout.
rsi and cci still showing way over sold.
ADA !!
finally we have completed the final correction wave to the 7.8 retrace level. most alts break out from this position.
sleeping now for many weeks. as you can see on the ADX to -DMI has broken into bullish territory for the first time since January. (BLUE - RED) green looking into uptrend.
MACD - has finally crossed over into up trend since January! ...
As an update from my previous BTC chart set on a slightly more bullish fib, analysis now indicating a more acute bearish adjustment is coming.
ShortTerm Trend - LONG
Current trend would suggest a bull trap will still occur, but with two possible retracements to the following:
D - 11,581 (in line with 50.0% fib)
D2 - 9,555 (in line with 61.8% fib)
LongTerm Trend ...
We've found our way down to this long term trend line (stretching from mid July). Can we close above it? Or will the Tether / Bitfinex news send us lower?
If lower, then next targets are the monthly pivot lines at 8950, and the 61.8% fib level / previous resistance at around 8500.
