ADA/BTC Perfect Waves Standing for BUY
Hello everyone!
I started counting waves on this pair last week, and has just finished.
ADA has turned bullish and has possibly completed 4 waves out of 5, it is currently in wave 2 of 5 sitting right on 0.618 level.
I expect Cardano to break out resistance and moon hard in wave 3! 1416-1530 zone is where I see the next massive retracement after the triangle break out.
There are no special announcements in near time, but there is a Blockchain Conference with ADA speakers and expect them to say something promising, in case if I am right with my technical analysis assumptions. Also have a look at MACD that shows a divergence, and two MA crossing up.
However, if we take waves theory outside, The best move for ADA/BTC to prove start of uptrend is falling down to 1000 satoshi and then boom. That way a perfect IHS pattern will form and the price will start a strong bullish move.
Summing up, I advise you to buy on retracement after the breakout of triangle 1/4 of total position, then increase it by another 1/4 on 1279, then look close for price action aroung 1320-1350 levels and buy the rest.
Rejection of this scenario is break of 1117 support.
I started counting waves on this pair last week, and has just finished.
ADA has turned bullish and has possibly completed 4 waves out of 5, it is currently in wave 2 of 5 sitting right on 0.618 level.
I expect Cardano to break out resistance and moon hard in wave 3! 1416-1530 zone is where I see the next massive retracement after the triangle break out.
There are no special announcements in near time, but there is a Blockchain Conference with ADA speakers and expect them to say something promising, in case if I am right with my technical analysis assumptions. Also have a look at MACD that shows a divergence, and two MA crossing up.
However, if we take waves theory outside, The best move for ADA/BTC to prove start of uptrend is falling down to 1000 satoshi and then boom. That way a perfect IHS pattern will form and the price will start a strong bullish move.
Summing up, I advise you to buy on retracement after the breakout of triangle 1/4 of total position, then increase it by another 1/4 on 1279, then look close for price action aroung 1320-1350 levels and buy the rest.
Rejection of this scenario is break of 1117 support.
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