ADA did a fake breakout and collapsed afterwards. A failed bullish pattern (over-throw, iH&S, etc) will be very bearish. We are currently breaking the downward channel to the downside. We have reached the log 38.2% retracement. If BTC breaks down, we could easily reach the GZ. On the lower TF, ADA might move into algo extensions after a traditional series (chart #2). After a clean impulse up, we should expect an ABC down. But beware: as always when using the EWP, decent price history is required, and we don't have it in ADA. The market environment (VIX) has caused the recent dump in ADA, preventing us to see balance in the corrective pattern we are starting.
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We are algorithmic traders and certified Elliotticians. We publish Elliott Wave and algo technical analysis on a daily basis for indices, stocks, cryptos, commodities, VIX, DXY, in weekly, daily and 4-hour timeframes. Our counts are not drawn subjectively but backed by solid algo trading evidence. We also answer all your questions regarding the Elliott Wave Principle!
Cryptos are updated every day of the week and on Saturday, if necessary.
Traditional assets are updated every day of the week.
Elliott wave & Fibonacci labelling:
Common path in white, bullish count in green, bearish count in red.
Please like and share if you appreciate this market update.
We are algorithmic traders and certified Elliotticians. We publish Elliott Wave and algo technical analysis on a daily basis for indices, stocks, cryptos, commodities, VIX, DXY, in weekly, daily and 4-hour timeframes. Our counts are not drawn subjectively but backed by solid algo trading evidence. We also answer all your questions regarding the Elliott Wave Principle!
Cryptos are updated every day of the week and on Saturday, if necessary.
Traditional assets are updated every day of the week.
Elliott wave & Fibonacci labelling:
Common path in white, bullish count in green, bearish count in red.
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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.
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.