Elliot TA on ADAUSDT, ST bearish, but bullish for LT
this chart is thruoughly based on Elliot wave theory
I counted the waves from lowest price to today.
Didn't notice before, the primary 1st/3rd were perfectly harmonized with fibonacchi 1:1.618 ratio
So I put it on Cycle time frame.
On my analysis, the recent bearish movement is 'A ' wave of [Cycle correction].
and it bottomed 04 DEC 21, and we are now in 'B' wave of [Cycle correction]
So we are expecting bounce to the preivious top which is 3.00
if it bounced off then the pattern is 'flat correction wave'
but if it pushes higer 3.00, it is 'irregular correction wave'
Either way, ADA is bullish at the moment, but it will collapse when 'B' wave is completed.
However, the [Cycle Correction] will finish before 29 JUL 2022
Then the most powerful of 3rd wave of [Cycle impulse] will start.
Overall I am so bullish for ADA
I counted the waves from lowest price to today.
Didn't notice before, the primary 1st/3rd were perfectly harmonized with fibonacchi 1:1.618 ratio
So I put it on Cycle time frame.
On my analysis, the recent bearish movement is 'A ' wave of [Cycle correction].
and it bottomed 04 DEC 21, and we are now in 'B' wave of [Cycle correction]
So we are expecting bounce to the preivious top which is 3.00
if it bounced off then the pattern is 'flat correction wave'
but if it pushes higer 3.00, it is 'irregular correction wave'
Either way, ADA is bullish at the moment, but it will collapse when 'B' wave is completed.
However, the [Cycle Correction] will finish before 29 JUL 2022
Then the most powerful of 3rd wave of [Cycle impulse] will start.
Overall I am so bullish for ADA
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