Outlook on Cardano (ADA) into 2019
Welcome! To start off, ADA has been making a wedge formation that is neither leaning bearish or bullish , but it would be my expectation for it to break upward with our entry being at point D after the price bounces off of the lower trendline . I've added what I'd like to see the ichimoku cloud change to on the chart above; a thinner cloud indicating decreasing resistance.
The price should move up through E wave, break into the cloud, then move out, support test yellow and then a bounce to reach for the first target in blue.
If you enjoy my analysis be sure to give a like!
Original idea by Tom https://www.tradingview.com/chart/ADABTC/agzjRUAQ-Outlook-on-Cardano-ADA-into-2019-Fixed/
The price should move up through E wave, break into the cloud, then move out, support test yellow and then a bounce to reach for the first target in blue.
If you enjoy my analysis be sure to give a like!
Original idea by Tom https://www.tradingview.com/chart/ADABTC/agzjRUAQ-Outlook-on-Cardano-ADA-into-2019-Fixed/
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