CardanoLong
ADA/USD: Wave 2 correction or something more sinister going on?
For what it was looking like a very bullish 1/2, 1/2 setup last week, now has invalidated after price broke down below $0.45 today. However, it is still within the parameters of an expanded B wave and now a C wave for minor wave 2. The wave 3 of 3 of C has been incredibly strong as it should, and we should see a relief rally for wave 4 shortly. An incredible re-buying opportunity will present itself at the golden zone $0.35-$0.34 area but it must be with some caution. If price falls below $0.3, then the bearish scenario of this entire rally since last Oct being a 3 waves move becomes more probable and a more price breakdown may ensue to continue the intermediate Y wave toward $0.15. For now, I am sticking with the bull case and have some fiat ready to convert.
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