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Cardano / Bitcoin
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ADA/BTC approaching critical supports: Cardano uptrend at risk ?

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ADA has been dropping with little bouncing.
But it has been following the red Fib series.
It is now approaching some critical supports.

Breakout and exact top was plotted in previous analysis
ADA/BTC breakout could be BIG: Cardano 22-58 % minimum expected


Admittedly since above breakout call I have been trying to find supports.
Now we are near the last stand, with just a couple supports that must hold.
Note
Decent bounce at the ''Likely" support snapshot now comes the red 2.618 for net hurdle

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Note
Always respect a 2.618 if the proper impulse was identified snapshot reflection from red 2.618 as expected, but bulls look to be reloading

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Note
Breach of the 2.618, a good start. snapshot But the resistance band above will be more difficult, might need a running start and couple of tries

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Note
The bounce is still struggling to gain momentum it seems snapshot

Taking a closer look, it seems we had a 5 wave impulse up, and are in ABC correction. snapshot Two possible scenarios, depending on whether to use the Wick/Spike down or only the 2.236 as bottom A.

That combination of 12345 and ABC could sell be the (1) and (2) of a larger order like this snapshot with wave (3) to come, which could be a quick climb past resistance. Lets see how this plays out.

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Note
So I guess the Green ABC is best bet, lets see if it terminates as plotted snapshot

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Note
So much for above moon plans :( BTC still going gang busters and massacring Alts. But we are about to hit the crucial line for ADA snapshot

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Note
Finally, a bounce as BTC calms down. snapshot Now we need to hold 1015-1050 sats at ALL COSTS.

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Note
Hit our "Bulls Last Stand" zone again, here a zoom snapshot Really needs to bounce here.

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EuroMotif
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FibonacciSupport and Resistance

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FibonacciSupport and Resistance
EuroMotif
Mod
the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag

Related publications

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.