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).

Capture-ADA.PNG

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.

Cheers