Hello again degenerados,
Just like you read in the title,
ADAUSD is on chilling mode and I don't have anymore hair to pull out.
If you have been following my analysis, you are now expecting price to be moving towards our T1 range. HOWEVER, while we are watching
XRPUSD and 
BTCUSD making moves, ADA is just chilling as if our future is not at stake.
But instead of pulling our bags from the exchange and end up regretting it for the rest of our lives, lets see what has been happening with Cardano:
- As you saw in the main image of this post, I have not changed my bullish bias towards Cardano yet. What helps me through this are the Price action that we see happening in XRP and BTC and how they compare to what Cardano is doing:
- XRP
- BTC
- As you can see from the charts above, both XRP and BTC are looking somewhat more bullish than Cardano but why?
- In my opinion, I think ADA is going through a consolidation phase, possible the W2 of our 5 impulse waves that creates the first bullish leg of the next bull run.
- As you can see in the Image, W1 was kinda weird and choppy which brought us to an even weirder W2, but the outcome has still not changed as we target the retest of that upper trendline in the $0.84 - $0.95 range.
- As for Wave 2, these are the following scenarios(Orange and Yellow) that I think might be happening:
- For one scenario (orange), W2 was already completed and we are now beginning W3.
- For the other scenario(yellow), we might have just completed W2 or we are pretty close to complete it with the possibility of retesting that $0.67 level.
I DON'T KNOW
The fact is that the whole financial market is being played with by geopolitical and economic wars around the world and there is nothing we can do about it.
ADA has been acting heavy. Some accumulation has definitely happened and might still be happening right now. All we need is enough stimulus for the market to start moving.
I still need to remind you to be aware of the lower trendline as our last hope of support. If price breaks through $0.65, a new wave recount will need to happen.
All we can do is wait and observe as ADA continues to test the limits of our patience.
Keep strong!
Just like you read in the title,
ADAUSD is on chilling mode and I don't have anymore hair to pull out.If you have been following my analysis, you are now expecting price to be moving towards our T1 range. HOWEVER, while we are watching
XRPUSD and BTCUSD making moves, ADA is just chilling as if our future is not at stake.But instead of pulling our bags from the exchange and end up regretting it for the rest of our lives, lets see what has been happening with Cardano:
- As you saw in the main image of this post, I have not changed my bullish bias towards Cardano yet. What helps me through this are the Price action that we see happening in XRP and BTC and how they compare to what Cardano is doing:
- XRP
- BTC
- As you can see from the charts above, both XRP and BTC are looking somewhat more bullish than Cardano but why?
- In my opinion, I think ADA is going through a consolidation phase, possible the W2 of our 5 impulse waves that creates the first bullish leg of the next bull run.
- As you can see in the Image, W1 was kinda weird and choppy which brought us to an even weirder W2, but the outcome has still not changed as we target the retest of that upper trendline in the $0.84 - $0.95 range.
- As for Wave 2, these are the following scenarios(Orange and Yellow) that I think might be happening:
- For one scenario (orange), W2 was already completed and we are now beginning W3.
- For the other scenario(yellow), we might have just completed W2 or we are pretty close to complete it with the possibility of retesting that $0.67 level.
I DON'T KNOW
The fact is that the whole financial market is being played with by geopolitical and economic wars around the world and there is nothing we can do about it.
ADA has been acting heavy. Some accumulation has definitely happened and might still be happening right now. All we need is enough stimulus for the market to start moving.
I still need to remind you to be aware of the lower trendline as our last hope of support. If price breaks through $0.65, a new wave recount will need to happen.
All we can do is wait and observe as ADA continues to test the limits of our patience.
Keep strong!
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.
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.