EuroMotif

ADA.btc Update: Wave is done, now likely to retrace to 706 sats

BINANCE:ADABTC   Cardano / Bitcoin
Near term update to my bigger picture Posted Here (click).

As you know, ADA has found some energy but may be fading?
At this time it looks like "a" wave ended at the green 4.618.
Common 4.618 retrace is to 2.618 or 2.236 so looking there.

The green 2.236 is in perfect confluence with blue 4.382,
which is from higher timeframe fib in above linked Idea.
So 706 sats looks to be the ideal bounce point for reentry.
Comment: Update: More Bullish than expected

Since posting this Idea, we did get an additional dip, but did not reach the 706 target
.

Zoom IN (34 min) and possible EW count: It is still plausible that we get another leg down if it is a WXYXZ
Green 2.618 at 737 sats looks like a good target for wave Z.

.

Alternatively, if we call it an ABC correction and done Then we could be in 12345 back up now.
Even in that case, we can expect a dip for wave (ii).
Wave (i) could go higher yet, perhaps the green 4.236.

.

SUMMARY:
- ADA looks more stronger that expected, but correction might not be done.
- Of the two EW counts, I prefer the WXYXZ with Z to come, rather than ABC done and 12345 start with w2 to come.
- Either way, we should see another dip soon, and where that dip starts and ends will be the key new data needed.

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Comments

Hey what do you think about current development?
Reply
EuroMotif tralivonvali
@tralivonvali, Hi, just posted an update above.
Overall it looks stronger than I had expected....
Reply
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