Cardano WXY In Primary 2
מעודכן
Cardano (ADA) is currently in a WXY (double zig-zag) in primary 2 which looks to take the price down to dangerous lows. The WXY is comprised of a zig-zag, expanded flat, and a zig-zag. The 1.618 extension of W gives us a price target of 0.02036 while the trend-based fibonnaci extension of AB in Y gives us price targets of 61.8 at 0.68USD 100.00 at 0.33USD, and 123.6 at 0.11USD.
הערה
Cardano appears to be in wave ii of (v) of ((v)) of C. The 123.6 - 161.8 of wave (iv) gives a target range of 0.33242 - 0.38542 while the 1.618 of the net of (i) - (iii) gives a target of 0.39187.
הערה
Update to the correction in minute ((iv)) which appears to be a WXY. Trading sideways for 93 days is classic fourth wave behavior.הערה
Expecting a big drop in ADA price to either .21 cents or .03 - .04 cents depending on whether or not wave (iii) extends.הערה
Price action clipping along as expected. ADA appears to be in a third wave extension in micro 4 of subminuette 5.Updated price target to 0.24.
הערה
Updated count, ADA appears to be in v of (iii) of ((v)). There is a clear descending triangle in wave iv of (iii).הערה
Revised count for the previous comment. It appears that ADAUSD is making an expanded flat (sideways correction) in (ii) and we are in the second wave of the c leg.הערה
The previous count showing a sideways ABC in (ii) has been invalidated. I've revised the count as follows:הערה
(iv) nearing completion. Updated price target for wave (v) from 0.24 to 0.16הערה
The ABC in (Y) count has been invalidated. I've switched the count for the (Y) leg from an ABC to a WXY.Counting from minor X - What I initially thought was a five wave move in an ((a)) became invalid when wave (iv) entered into wave ((i)).
This forced me to reevaluate the structure. It didn't look like an ending diagonal. Therefore it is most likely a three wave correction.
Here you can see a perfect zig-zag. The (b) wave retraces 38.2% of the (a) wave and the (c) wave extends past the 61.8% of the A wave. Therefore this is a 3-3-3 structure or WXY.
In the Y leg we're looking for ANY (zig-zag, triangle, or flat.) complex correction to develop.
הערה
ADAUSD count update. Simple Zig-zag in primary 2. Price targets are still the same 0.4-0.14 cents.הערה
Count update 6/15/2024ADAUSD has completed an expanded flat correction in ((B)) and is in wave (1) of ((C)).
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