Cardano (ADA) Was the .238 fib line the support? Take off now?
Hi Traders,
I think we all can agree there is an obvious cup and handle that gave momentum to the 5th wave extension and we are now seeing a retrace.
Obvious rejection at the .238 fib line but is this just a "reaction" or will it act as true support? I entered a small position here. If it doesnt hold, i'll be looking to add more at the .382 fib line. Given the bullish natuure of this last weeks trend, i feel our retraces will not be very deep in comparison to our gains as Bitcoin looks to try and attempt to break its previous high at 11,600 after finishing this correction.
I think we all can agree there is an obvious cup and handle that gave momentum to the 5th wave extension and we are now seeing a retrace.
Obvious rejection at the .238 fib line but is this just a "reaction" or will it act as true support? I entered a small position here. If it doesnt hold, i'll be looking to add more at the .382 fib line. Given the bullish natuure of this last weeks trend, i feel our retraces will not be very deep in comparison to our gains as Bitcoin looks to try and attempt to break its previous high at 11,600 after finishing this correction.
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