Cardano ADA April 17 Elliot Wave Technical Analysis - Correction In Play

in cardano •  7 months ago

General Tone:
ADA was added a new chinese exchange. Though we count 5 waves in for subwave 3, which signals a correction is underway.
Long Term Bias (6+ months) - Bullish
Medium Term Bias (Next Week) - Bullish
Short Term Bias (Today) - Bearish
Long Term Target Prediction - N/A

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good job, thinks for for share information , a thumbs up @philakonesteemit

Excellent Phil, thank you.

Thanks! Mama Whale!

Hi Phil

Would there be a difference in charting in BTC vs USDT? EW count fits well with BTC (your chart), but in USDT, it implies that there is a bit more room to go to the 1.618 Fib Level. My chart in ADA/USDT below to hopefully give you an idea of what I'm trying to convey (excuse the mess and newbie attempt).


Ive laid out two scenarios, yellow being continuation to 1.618. Orange is correction after completion of main ABC correction.

On another note, apart from listing on a new exchange, ADA now is using USDT as a trading pair on Binance as of today, which may also contribute to the pump in volume today.

Appreciate your thoughts, especially your tutorial content.