Chart of the Day: Cardano (ADA)
Cardano is another chart I'm watching for a bottom. I had previously expected to see the .786 retrace of entire peak to trough on the weekly at .048. We almost got there. I had still expected that we would 'stretch' to hit it but then this 5 wave fractal showed, with a properly extended third, so I am now watching for a this to bottom. If this pattern is in play, we are coming down in the C of 2 and the fun really begins. If we instead break. 066, then I expect new lows in the correction that began in January. Given that the weekly points to a large third wave here, this one should be a good long term hold, provided it follows through at key levels above.
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Thanks for posting
Can't wait for ADA to Moon, my guess is $10 in a year
Wildtrader ,are you an analyst in cryptocurrency trading? elliotwavetrader is really a good site. can you say that which cryptocurrency will boom in market in 2019?
Yes, I am the cryptocurrency analyst on Elliotwavetrader. Can I say the market boom in 2019? We're near a bottom but it could be a B wave. We'll have to see if it goes impulsive.
I love charts. Thanks for posting!
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I've got cardano and am holding. Do you think crypto will go back up at end of year to where it was last December?
I believe we are near a bottom, just simple math, but I don't have any idea how fast a rally will move.
I'm very much interested on your analysis., Keep doing great work
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I've been increasing my position in Cardano since last year. The team has a lot of promise, and dare I say it, Cardano will be the next Ethereum. Looking at their roadmap, 2019 is going to be a big year for Cardano.
Thanks for reviewing cardano. Have you looked at rchain (rhoc)? Looks like good risk/reward at these levels...