quantmaven

Cardano Elliot Wave Long Term View

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BINANCE:ADAUSD   Cardano
Here's my take on Cardano. I always count from the low of March 2000, I seen people consider the bull market starting in 2019 but many crypto currencies/assets made new lows with the pandemic. From there we can count 5 waves up on Cardano. My only issue is that wave 5 is kinda short compared to the first and third one. Another possible scenario could be that we are still in wave 4. Under that scenario, price can still fall as low as 0.85-0.95 again to restest the low we have seen a couple days ago, but should be sustained until the next bull run starts. Either case (that we are still in wave 4 or A), it's bearish unfortunately.
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