FX_Academy

Cardano (ADA/BTC) bearish scenario

Short
BINANCE:ADABTC   Cardano / Bitcoin
Looking at the Cardano chart, this is the most logical thing I see. I have labeled two potential bearish scenarios: first in which this is an ABC correction which ends on the 0,618 Fibonacci extension level: and the second in which this is an ABCDE correction within a triangle in which case the target is lower at 190 Satoshi.

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.