For ADA we have an simillar count as for bitcoin, below you can see a link to BTC idea
Both waves 2 ended on the 0.618 Fibonacci inside a rising wedge
At the beginnning of an uptrend, bearish patterns has a higher chance to break to the upside
2 great targets are:
- the 1.618 fib extension/previous support and the 0.786 fib of the downtrend around 80 cents
- the 2.618 fib extension/ 0.618 Fib of the downtrend and the yearly close of 2021 around 1 dollar 30 cents
This is gonna take some while to develop but it could form al larger cup and handle for a breakout after the bitcoin halving
Both waves 2 ended on the 0.618 Fibonacci inside a rising wedge
At the beginnning of an uptrend, bearish patterns has a higher chance to break to the upside
2 great targets are:
- the 1.618 fib extension/previous support and the 0.786 fib of the downtrend around 80 cents
- the 2.618 fib extension/ 0.618 Fib of the downtrend and the yearly close of 2021 around 1 dollar 30 cents
This is gonna take some while to develop but it could form al larger cup and handle for a breakout after the bitcoin halving
Note
If you zoom a little in you can see we had 2 falling wedges for the corrections, and now we already had an breakout and retest of the 2nd falling wedgeNote
When you have an altseason you need bitcoin as stable as possible and alts/btc should move higherso it could still take some couple of months for ada/btc to breakout if bitcoin can move quit higher
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.