In what appears to be a clear wave 4 triangle, ADA appears ready to launch 10%-15% higher to complete this initial pattern off the bottom. From there we would expect a wave 2 retracement. I'll say this in advance as to not give any of my followers the improper expectations.
Wave 2's are far more unpredictable than any other corrective patterns. That is because of alternation with wave 4's. This means wave 4's take cues from wave 2's. A wave 2 can be deep....or shallow. Whereas you do not get the complex patterns associated with wave 4's, you do get the deep-shallow uncertainty. Lastly, there are many posts on trading view about crypto having not bottomed.
That is not my viewpoint as it pertains to Cardano. I believe ADA had bottomed.
If you choose to trade out of ADA you do so with the risk of a wave 2 being shallow and being left behind. However, with all things regarding your trading...these are your decisions.
Best to all,
Chris
Wave 2's are far more unpredictable than any other corrective patterns. That is because of alternation with wave 4's. This means wave 4's take cues from wave 2's. A wave 2 can be deep....or shallow. Whereas you do not get the complex patterns associated with wave 4's, you do get the deep-shallow uncertainty. Lastly, there are many posts on trading view about crypto having not bottomed.
That is not my viewpoint as it pertains to Cardano. I believe ADA had bottomed.
If you choose to trade out of ADA you do so with the risk of a wave 2 being shallow and being left behind. However, with all things regarding your trading...these are your decisions.
Best to all,
Chris
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