ADA/BTC asking "to C or Not to C" ? Cardano ready to retrace?

24 mars 2019

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:

24 mars 2019

Note

Finally, the C wave reached first target. The bounce looks pretty good, might not extend any lower.

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24 mars 2019

Note

Bulls trying for a double bottom in the crucial support zone

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24 mars 2019

Note

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 now we have first resistance at the 2.236 of downward wave.

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24 mars 2019

Note

So now we have a Fib-War: the Red ripples pushing down, Green ripples pushing up in theory the red 2.236 is bear's line of defense, and green 1.618 is that of bulls.

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25 mars 2019

Note

Maybe one more leg of correction for ABCDE? to say 1450 sats? would be better sign if 1467-70 held

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