Macro-level
Looks like we are still in Wave 3 of the 5 wave series for Cardano(ADAUSD)
The Wave 1 was completed in 2018 at $1.3
Wave 2 ran for a very long period till end of 2021
We are now in wave 3 for the bigger wave cycle
Wave 3 is an impulse wave with 5 sub-waves (1-2-3-4-5)
In the bigger Wave 3 we are in sub-wave (2)
Looks like Sub-wave 2 is making an irregular correction (A-B-C)
Micro level
In a complex A-B-C irregular correction the waves are subdivided into 3-3-5
W(A) is a 3 wave ended at $1
W(B) is a 3 wave structure and ended above the start of wave(A) at 1.38% extension of W(A)
Wave(C) is a 5 wave and drastically drops to the end of W(B) or even a little lower to 1.618% of Wave(A)
We are now in the 5 wave series of Wave(C) - its at sub-wave(4)
If we are in the downward cycle with the whole crypto market going down, my guess is this might end at 1.618% at
$0.81 in the next few weeks
Please comment and appreciate your feedback
Looks like we are still in Wave 3 of the 5 wave series for Cardano(ADAUSD)
The Wave 1 was completed in 2018 at $1.3
Wave 2 ran for a very long period till end of 2021
We are now in wave 3 for the bigger wave cycle
Wave 3 is an impulse wave with 5 sub-waves (1-2-3-4-5)
In the bigger Wave 3 we are in sub-wave (2)
Looks like Sub-wave 2 is making an irregular correction (A-B-C)
Micro level
In a complex A-B-C irregular correction the waves are subdivided into 3-3-5
W(A) is a 3 wave ended at $1
W(B) is a 3 wave structure and ended above the start of wave(A) at 1.38% extension of W(A)
Wave(C) is a 5 wave and drastically drops to the end of W(B) or even a little lower to 1.618% of Wave(A)
We are now in the 5 wave series of Wave(C) - its at sub-wave(4)
If we are in the downward cycle with the whole crypto market going down, my guess is this might end at 1.618% at
$0.81 in the next few weeks
Please comment and appreciate your feedback