Reviewing *Cardano* with King Elliot style (ABC Pattern - Daily)
In examining the past upward trend of this lovely currency, we realize that its upward movement was in the form of 5 waves; By fully examining these waves, the correctness of these movements is confirmed; For further analysis, I would like to draw your attention to the following rules which are listed in the form of a list:
1: (Wave 1) The price and time spent in wave 1 clearly indicate the change of the past trend.
2: (Wave 1) the price has created a new ceiling.
3: (Wave 2) The price has corrected itself in the form of 3 decreasing waves.
4: (Wave 2) the price has created a floor above its previous floor
5: (Wave 2) the price has corrected at least 30% of the time of Wave 1.
6: (Wave 3) is the longest wave in terms of time and price.
7: (Wave 3) All the peaks created in this wave are higher than the previous ones and all the holes created are higher than the previous ones.
8: (Wave 3) Since this wave is formed by the entry of all traders, it should be confirmed by checking the volume of transactions that the highest amount of volumes has been formed here, which is shown inside the square.
9: (Wave 4) This wave can be related to wave 2 in terms of price and time, which is confirmed here.
10: (Wave 4) This wave is created by strong and ruthless selling by the traders who accompanied it in wave 3 (sharpness of the wave).
11: (Wave 5) This wave is actually the last attempt of the market to increase the price, which is usually not accompanied by traders of wave 3, and it is a great selling opportunity for traders of wave 1 who were also holders.
12: (Wave 5) In this wave, we will mostly see large and negative volumes and we will see the highest amount of buoyancy
So, with the above explanations, we confirm that the previous trend is 5 waves
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We all know that upon completion of a 5-wave in a certain time frame, the price must correct itself by 3 downward waves in the same time frame.
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as a result :
The first bearish wave will begin
- With the investigations carried out in the 4-hour time frame; Wave (A) behaved as a 5 wave
* Therefore, it can be assumed that this model of AB B will be in the form of (5.3.5).
As a result, wave B must be a 3-wave, which is also proven by divergence.
With the completion of wave B, we should witness the creation of wave C.
According to the previous explanation, this wave should behave similar to wave A and be 5 waves.
Currently, according to my observations, wave 1 and 2 are made from wave (C) and we have to wait for wave 3 to be made
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Very important points:
1: All the rules of 5 waves must be observed in wave (A) and (C).
2: Wave (C) is generally made by the frustration of traders, which means it can take more time and price than wave (A).
3: If you like this analysis, encourage me with your likes and comments.
Be successful and profitable
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1: (Wave 1) The price and time spent in wave 1 clearly indicate the change of the past trend.
2: (Wave 1) the price has created a new ceiling.
3: (Wave 2) The price has corrected itself in the form of 3 decreasing waves.
4: (Wave 2) the price has created a floor above its previous floor
5: (Wave 2) the price has corrected at least 30% of the time of Wave 1.
6: (Wave 3) is the longest wave in terms of time and price.
7: (Wave 3) All the peaks created in this wave are higher than the previous ones and all the holes created are higher than the previous ones.
8: (Wave 3) Since this wave is formed by the entry of all traders, it should be confirmed by checking the volume of transactions that the highest amount of volumes has been formed here, which is shown inside the square.
9: (Wave 4) This wave can be related to wave 2 in terms of price and time, which is confirmed here.
10: (Wave 4) This wave is created by strong and ruthless selling by the traders who accompanied it in wave 3 (sharpness of the wave).
11: (Wave 5) This wave is actually the last attempt of the market to increase the price, which is usually not accompanied by traders of wave 3, and it is a great selling opportunity for traders of wave 1 who were also holders.
12: (Wave 5) In this wave, we will mostly see large and negative volumes and we will see the highest amount of buoyancy
So, with the above explanations, we confirm that the previous trend is 5 waves
------------------------------------------------------------------------------------------------------------------------------------------------------------
We all know that upon completion of a 5-wave in a certain time frame, the price must correct itself by 3 downward waves in the same time frame.
------------------------------------------------------------------------------------------------------------------------------------------------------------
as a result :
The first bearish wave will begin
- With the investigations carried out in the 4-hour time frame; Wave (A) behaved as a 5 wave
* Therefore, it can be assumed that this model of AB B will be in the form of (5.3.5).
As a result, wave B must be a 3-wave, which is also proven by divergence.
With the completion of wave B, we should witness the creation of wave C.
According to the previous explanation, this wave should behave similar to wave A and be 5 waves.
Currently, according to my observations, wave 1 and 2 are made from wave (C) and we have to wait for wave 3 to be made
------------------------------------------------------------------------------------------------------------------------------------------------------------
Very important points:
1: All the rules of 5 waves must be observed in wave (A) and (C).
2: Wave (C) is generally made by the frustration of traders, which means it can take more time and price than wave (A).
3: If you like this analysis, encourage me with your likes and comments.
Be successful and profitable
ADAUSDT
ADAUSDT
ADAUSDT
ADAUSDT
ADAUSDT
ADAUSDT
ADAUSDT
ADAUSDT
ADAUSDT
ADAUSDT