possible scenario brewing up in Cardano (ADA token). If we can move up convincingly from the current bull flag and hit the $0.37 resistance level then we may make the ATH next year (June 2021) along with BTC. Fingers crossed.
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.
. There is a possibility of temporary retracement to suggested support line (0.0785). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. ADAUSDT is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support....
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...