What to expect from CARDANO(ADAUSDT).
Disclaimer: This is not investment advice. This is for educational purposes only. I am not responsible for the profits or loss generated from your investments. Please trade and invest at your own risk.
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Reciprocal Patterns:
In the Reciprocal Patterns (ABCD), it is expected that after the formation of the BC wave and based on some special and important Fibonacci levels, the next wave (CD) will end in a certain range in this tool. After correcting the AB wave by BC wave to 61.8% (Golden Ration), according to the ABCD (Reciprocal) Pattern, the CD wave is expected to move up to 200% of the BC extension. This level of Fibbonachi can create a PRZ(Potential Reversal Zone) with two other levels: the Projection AB from point C and the Expansion of the AB wave.
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In this analysis, you can see a strong PRZ in the three levels of the Fibonacci tool:
200%Bc Extension
61.8 & 100%AB from C Projection
161.8%AB Expansion.
In ADA, We see, the chart has climbed to the previous level (point X) and has been corrected by 61.8% since then. I have set this level as a support as well as a Stop-Loss line. It has strong resistance from the X point. If this resistance is broken, the occurrence of this pattern will be more achievable.
I recommend taking the first step right now and the next step after breaking the resistance of the X-point and the pullback to the broken roof.
Note: According to previous analysis from this symbol, the ADAUSDT moves in a valid channel. Unfortunately, due to space constraints, it is not possible to display all details of this analysis. Therefore, to view the channel, refer to the previous post or scroll this analysis down.
********************************************************************
Reciprocal Patterns:
In the Reciprocal Patterns (ABCD), it is expected that after the formation of the BC wave and based on some special and important Fibonacci levels, the next wave (CD) will end in a certain range in this tool. After correcting the AB wave by BC wave to 61.8% (Golden Ration), according to the ABCD (Reciprocal) Pattern, the CD wave is expected to move up to 200% of the BC extension. This level of Fibbonachi can create a PRZ(Potential Reversal Zone) with two other levels: the Projection AB from point C and the Expansion of the AB wave.
********************************************************************
In this analysis, you can see a strong PRZ in the three levels of the Fibonacci tool:
200%Bc Extension
61.8 & 100%AB from C Projection
161.8%AB Expansion.
In ADA, We see, the chart has climbed to the previous level (point X) and has been corrected by 61.8% since then. I have set this level as a support as well as a Stop-Loss line. It has strong resistance from the X point. If this resistance is broken, the occurrence of this pattern will be more achievable.
I recommend taking the first step right now and the next step after breaking the resistance of the X-point and the pullback to the broken roof.
Note: According to previous analysis from this symbol, the ADAUSDT moves in a valid channel. Unfortunately, due to space constraints, it is not possible to display all details of this analysis. Therefore, to view the channel, refer to the previous post or scroll this analysis down.
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