Cardano has been very strong since breakout.
But we really need a retrace to confirm supports.
Thus far we saw one leg pullbacks only, not 3 waves.
Currently at an important line: the Blue 2.618.
The 2.618 is often a strong support but was broken.
But even a once-broken 2.618 can form a "higher low".
Thus we can NOT be confident of Wave C happening.
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This is an update to my ongoing anaylysis which started with aniticipated Breakout:
After the breakout, I had some near term targets which were hit and surpassed:
My last plot was expecting 1600 sats to be serious reistance, which proved correct:
Now watching closely for ABC to complete as normal, or to bounce off 2.618 and keep going:
But we really need a retrace to confirm supports.
Thus far we saw one leg pullbacks only, not 3 waves.
Currently at an important line: the Blue 2.618.
The 2.618 is often a strong support but was broken.
But even a once-broken 2.618 can form a "higher low".
Thus we can NOT be confident of Wave C happening.
.
This is an update to my ongoing anaylysis which started with aniticipated Breakout:
After the breakout, I had some near term targets which were hit and surpassed:
My last plot was expecting 1600 sats to be serious reistance, which proved correct:
Now watching closely for ABC to complete as normal, or to bounce off 2.618 and keep going:
Commento:
Bulls trying for a double bottom in the crucial support zone
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Commento:
Double-bottom has played out in ideal fashion thus far: the 'hump' between bottoms was surpassed, then retested for entry confirmation for a lot of traders
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now we have first resistance at the 2.236 of downward wave. .
Commento:
So now we have a Fib-War: the Red ripples pushing down, Green ripples pushing up in theory
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the red 2.236 is bear's line of defense, and green 1.618 is that of bulls. .
Commento:
Maybe one more leg of correction for ABCDE? to say 1450 sats?
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would be better sign if 1467-70 held .
the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
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