Cardano felt extremely strong during the December 2017 rally, and it went up from 250 satoshis up to 9180 satoshis, that is nearly 2500% growth in just over a month.
ADA/BTC currently has corrected down to 2360 satoshis, where it is currently trading. At this level, Cardano should find the support, confirmed by the 76.4% Fibonacci retracement level. If the support holds and the downtrend trendline is broken, the bullish falling wedge pattern will be confirmed resulting in the continuation of the uptrend.
As the bullish divergence is forming on the RSI oscillator, and price facing Fibonacci support, the reversal probability remains very high at this point and perhaps the buying opportunity is already there.
@zainworld, if btc will not go up it either won`t go
CryptoPAMM
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@vovovov, true, lets see how it will react at support
CryptoPAMM
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@zainworld, it might consolidate for another month at most, then it should be far more than 6k sats. At the same time now alts are reversing, some will go moon, some not. Need to see whether it'll take time for ADA to consolidate or moon straight away.
b2020d
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@hitech, it is trading below the 76.40 support line, will it go down to 0.000012?
TomPower
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@bdavletov, its close enough for government work, that fibstuff is voodoo anyway. large bull flag on this thing. BTC might dump one more time but this thing won't which shows relative strength.
CryptoPAMM
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@bdavletov, need to see the daily close below, then yes could go lower