Cryptocurrencies

ADAUSD Elliott Wave Technical Analysis March 02 2023

4Hour

Cardano/U.S.dollar(ADAUSD)
ADAUSD Elliott Wave Technical Analysis
Function: Counter trend
Mode: Corrective
Structure: Flat
Position: Wave (C)
Direction Next higher Degrees: wave ((2)) of Motive
Details:  in an expanded flat, wave C equals 1.382 or 1.618 multiplied by the length of wave A
Wave Cancel invalid level: 0.2390

Cardano/U.S.dollar(ADAUSD)Trading Strategy: The retracement of the wave ((2)) is likely to return to the .618 of the wavelength ((1)) at the level of 0.3061, at the end of which the price will re-enter the main trend in the wave ((3)). Gives us the opportunity to join the trend again. Wait for the wave ((2)) to complete.

Cardano/U.S.dollar(ADAUSD)Technical Indicators: The price is below the MA200 indicating a DownTrend. The wave oscillators below Zero-Line momentum are bearish

Daily

Cardano/U.S.dollar(ADAUSD)
ADAUSD Elliott Wave Technical Analysis
Function: Counter trend
Mode: Corrective
Structure: Flat
Position: Wave (C)
Direction Next higher Degrees: wave ((2)) of Motive
Details:  Retracement of wave (2) equal to .618 x Length wave (1) at 0.3064
Wave Cancel invalid level: 0.2390

Cardano/U.S.dollar(ADAUSD)Trading Strategy: The retracement of the wave ((2)) is likely to return to the .618 of the wavelength ((1)) at the level of 0.3061, at the end of which the price will re-enter the main trend in the wave ((3)). Gives us the opportunity to join the trend again. Wait for the wave ((2)) to complete.

Cardano/U.S.dollar(ADAUSD)Technical Indicators: The price is below the MA200 indicating a DownTrend. The wave oscillators below Zero-Line momentum are bearish