ADA to $0.45(ish) says Elliot Wave
Updated
As much as I love ADA and think the future is bright - taking emotions out of it and strictly taking technical analysis into account (Elliot Wave) has this coin going to approximately $0.45 - $0.50.
Yellow zigzag lines show daily/weekly (high-level) Elliot Wave - which shows we're in wave 5, the final wave before a reversal takes place.
The green zigzag lines show the inner Elliot wave (4-8hr) of each high-level wave - which shows we're beginning wave 3 (confirmed if we break $0.93 and the bottom red trend line). If broken, this will trigger a selloff that I think goes to approximately $0.50, at which point we'll retest $0.93 resistance and will then retest and have a double bottom around that $0.45 - $0.50 range - in which the trend reversal will begin. I'll be looking for this bottom for a long entry - or will enter long if the upper blue trend line is broken.
Those are my thoughts! Not financial advice.
What are your thoughts?
Yellow zigzag lines show daily/weekly (high-level) Elliot Wave - which shows we're in wave 5, the final wave before a reversal takes place.
The green zigzag lines show the inner Elliot wave (4-8hr) of each high-level wave - which shows we're beginning wave 3 (confirmed if we break $0.93 and the bottom red trend line). If broken, this will trigger a selloff that I think goes to approximately $0.50, at which point we'll retest $0.93 resistance and will then retest and have a double bottom around that $0.45 - $0.50 range - in which the trend reversal will begin. I'll be looking for this bottom for a long entry - or will enter long if the upper blue trend line is broken.
Those are my thoughts! Not financial advice.
What are your thoughts?
Note
My idea is still in tact. Will we have one more push lower before a reversal?
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