BINANCE:ADABTC   Cardano / Bitcoin
$ADA has been ranging for the past 16 hours as the market decides on where it goes for the next few days.
As of right now, a bullish ABCD pattern has formed and awaiting the ichi cloud break to continue the uptrend (1 and 2 would represent B and D here).

However, a potential drop is coming because:
1. volume at support levels have been weak
2. rejected by kijun and 0.5 fib
3. ichi twist
4. rising wedge

A test of ichi cloud bottom/daily support is likely. If support fails, i'm expecting price to fall in the purple box to the 0.618/1.272 fib levels to complete a bullish 3 drives pattern.

Comment: lol i guess the market made a decsion. new entry target at 0.618 fib confluence zone
Comment: 3500~3400 sats is the 0.618 confluence zone
Comment: missed my re-entry by 23 sats damnit

Comments

Whats you thoughts about the nice Cup&Handle formed within the last 2 month in the Daily Chart...
Reply
oniedarida Seppi83
@Seppi83, this is a short term correction for anyone looking to enter. both scenarios i've shown are bullish
Reply
Seppi83 oniedarida
@oniedarida, thx for your reply. C&H seems like an additional bullish Signal for me too.
Reply
oniedarida Seppi83
@Seppi83, for sure
Reply
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