✴️ Cardano (ADA) Lower Low 25-50% Drop Before Bullish WaveWe have an interesting situation with Cardano, one of the pairs that we've been trading for many years (ADAUSDT). Have you been trading ADA for a long time as well?
See this bearish harmonic pattern:
This is a common pattern and easy to spot and it is also quite accurate, it tends to be successful most of the time.
The interesting situation here is that we have two main levels:
➖ One is equal to a 25% drop and the other one a 50% drop.
I would love to say that the first level would be the correction low based on a long-term bullish bias for the entire market and, hope, but, that is not what I am saying.
👉 Going through past experiences, it always end up being the worst possible when it comes to these Crypto pairs. Meaning, we have to prepare for the lower level to be tested before the major bullish wave.
Both levels can be easily spotted on the chart.
➖ One can profit from the down-wave through a SHORT.
➖ Or one can wait for a support level to be established and once this happens buy and hold spot, or go LONG.
➖ We can also do both but this requires a huge amount of patience, focus and mind control. Can you do it?
Daily trading volume, bear or bull, has been decreasing since early December 2023; more than five months, as prices move lower and lower but still a lower low is likely on the way.
Thank you for reading.
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