Hello traders, Cardano in daily timeframe , this analysis has been prepared in daily timeframe but has been published for a better view in 2 day timeframe.
Cardano has passed the main waves 1 and 2 and is now inside wave 3.
Wave 3 forms microwaves 1, 2, and 3 and is involved in waves 4 and 5.
Wave 4 is probably zigzagging and probably completed wave a at lower time wave counts.
And maybe inside wave b and it can also be inside wave c .
If the red dot is broken downwards, confirmation of wave formation c will be given and the downtrend can continue up to Fibonacci 0.38.
Otherwise there will be a re-ascent to the upper side of the channel and then a descent to Fibo 0.23 will be formed.
If the previous peak, 3.665, is broken, we will conclude that wave four of wave 3 has already formed.
๐If you have an idea that helps me provide a better analysis, I will be happy to write in the comments๐
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Cardano has passed the main waves 1 and 2 and is now inside wave 3.
Wave 3 forms microwaves 1, 2, and 3 and is involved in waves 4 and 5.
Wave 4 is probably zigzagging and probably completed wave a at lower time wave counts.
And maybe inside wave b and it can also be inside wave c .
If the red dot is broken downwards, confirmation of wave formation c will be given and the downtrend can continue up to Fibonacci 0.38.
Otherwise there will be a re-ascent to the upper side of the channel and then a descent to Fibo 0.23 will be formed.
If the previous peak, 3.665, is broken, we will conclude that wave four of wave 3 has already formed.
๐If you have an idea that helps me provide a better analysis, I will be happy to write in the comments๐
โค๏ธPlease, support this idea with a like and comment!โค๏ธ