Cardano ADA can be the hidden gem
Updated
Today it’s time to talk about Cardano, my last trade on it was quite successful I was able to catch the countertrend trade.
You can watch it here👇
I also consider now that ADA has found it’s local bottom and we can use this opportunity to trade.
I have tried a lot of different technical analysis approaches and found that best way to trade crypto is the Elliott waves confirmed by trading chaos tools. On the 1D time frame of the ADAUSDT chart of the WhiteBit exchange I have drawn the considered waves structure. Cardano is printing the last global bearish wave 5 like the entire crypto market.
I suppose that the wave 3 inside last bearish wave have been already finished and now the price set the local bottom. I concluded it because of the reaching the target level 1.61 Fibonacci extension, which is a natural level for the wave 3. Moreover wave 3 has the clear internal structure. Awesome oscillator showing us the wave 3-3 bottom because it corresponds to the minimal value. Wave 3-5 I suppose has been already ended. The wave is extended and longer than wave 3-3, but trading chaos approach helps us understand that.
We can trade the corrective wave 4. I suppose it is going to print the flat or irregular correction because the wave 2 was represented as a zigzag. Waves 2 and 4 usually have the different structure. I have already opened long trade with the target at $0.34 because the 0.38 Fibonacci retracement is located there. This is the natural target for the flat correction.
After that I expect the last wave 5 inside wave 5 and the end of the bear market. I think ADA can form it’s bottom even earlier than Bitcoin and it has much more potential to grow in the new bull run.
Best regards, Ivan
________________________________________________________________________________________________
If you like my trade ideas, please smash the boost button to stimulate me make more quality analytics!
You can watch it here👇
I also consider now that ADA has found it’s local bottom and we can use this opportunity to trade.
I have tried a lot of different technical analysis approaches and found that best way to trade crypto is the Elliott waves confirmed by trading chaos tools. On the 1D time frame of the ADAUSDT chart of the WhiteBit exchange I have drawn the considered waves structure. Cardano is printing the last global bearish wave 5 like the entire crypto market.
I suppose that the wave 3 inside last bearish wave have been already finished and now the price set the local bottom. I concluded it because of the reaching the target level 1.61 Fibonacci extension, which is a natural level for the wave 3. Moreover wave 3 has the clear internal structure. Awesome oscillator showing us the wave 3-3 bottom because it corresponds to the minimal value. Wave 3-5 I suppose has been already ended. The wave is extended and longer than wave 3-3, but trading chaos approach helps us understand that.
We can trade the corrective wave 4. I suppose it is going to print the flat or irregular correction because the wave 2 was represented as a zigzag. Waves 2 and 4 usually have the different structure. I have already opened long trade with the target at $0.34 because the 0.38 Fibonacci retracement is located there. This is the natural target for the flat correction.
After that I expect the last wave 5 inside wave 5 and the end of the bear market. I think ADA can form it’s bottom even earlier than Bitcoin and it has much more potential to grow in the new bull run.
Best regards, Ivan
________________________________________________________________________________________________
If you like my trade ideas, please smash the boost button to stimulate me make more quality analytics!
Trade active
Hello, my friends! Quick update on ADAUSDT. Be ready to double your long position at $0.2556:
Trade active
The second limit order at $0.2556 has been filled. Do not panic if ADA will hit the $0.2532 because the imbalance area is located there. Do not overleverage yourself. I use 3x leverage.
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