Good morning traders, XXX/BTC crosses becoming more and more interesting, which can be also a good evidence that XXX/USD coins approaching the bottom, so another interesting coin is Cardano (ADABTC) in which can see a sharp move from lows, labelled as wave 1, then we can see a clear three-wave (A)-(B)-(C) corrective movement into wave 2 and then the most important five sub-waves up, which suggest more upside in coming days, so we would not be surprised, if Cardano starts it's rally into wave 3.
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As expected, ADABTC is trading nicely higher, so we can expect even more upside towards 0.00003160 level for wave 3..
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ADABTC is currently trading in wave 5 of (3), so be aware of a pullback into wave (4) back to a base channel resistance, which could act as a support, from where we can expect ADABTC to continue higher for wave (5) of 3.
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ADABTC reached our projected levels and currently we see it in a temporary correction of wave 4, where support can be around 38,2% Fibo. retracement and 0.000029 level. There is also possibility of EW triangle in wave 4, but anyhow we remain bullish and ADABTC can be headed higher towards 0.000037 level after completed correction.
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ADABTC made three waves down right into support area, from where we could see a bounce back to highs for wave 5 towards 0.000037 - 0.000038 or higher.
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This is how we do it! Five waves up is here, be aware of a deeper pullback!
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OK, five waves can be completed, so be aware of a drop into a deeper and longer correction.