CardanoShort
ADA, DOWNWARD TARJECTORY
Spy might be reaching its peak, with a potential $461 area (236 retracement) in sight.
Anticipating ADA to maintain its downward trajectory, it's also adhering to these Fibonacci levels from the last run.
If history repeats itself and we observe tight liquidity as indicated by the Volume Profile, coupled with aggressive selling, a 50% retracement, or even a 61% retracement, seems plausible.
Keeping an eye on these two areas if the upward trend line breaks, which I believe is likely.
Anticipating ADA to maintain its downward trajectory, it's also adhering to these Fibonacci levels from the last run.
If history repeats itself and we observe tight liquidity as indicated by the Volume Profile, coupled with aggressive selling, a 50% retracement, or even a 61% retracement, seems plausible.
Keeping an eye on these two areas if the upward trend line breaks, which I believe is likely.
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