ADABTC - One more ride in the Car-down-o

10 Nis 2018

Falling Wedge, Symmetrical Triangle - After a sizeable drop from 5 bullish impulse waves, Cardano formed a deep falling wedge, in late March this wedge was broken with a sideways movement forming a symmetrical triangle. I believe this should break down one more time once Bitcoin starts moving, there is poor volume on ADA and Bearish Divergence on the RSI.

Fibonacci & Historical Support - A likely buy target will be in the 1200 - 1300 sat range, there is confluence of the .88 fib, historical support and a retest of the wedge trendline.