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ADABTC Technical Analysis based on Fibs and Elliot Wave theory

Education
BINANCE:ADABTC   Cardano / Bitcoin
This a Technical Analysis for ADABTC chart on 4 Hour timeframe. It has completed impulse wave 1 and 2. Wave 3 which is usually the longest and strongest wave is just started. Based on the Fib level expected target is somewhere around 5700 to 5800 Satoshis (Taking this a bit on lower side) See the corresponding Fib level as well. Wave 4 retracement may be around 5000 Satoshis.

RSI is showing bullish momentum with higher lows. Please see the red trendline. Please also see how 55 EMA has just started providing support (Blue Line)

This is purely for educational purposes.

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