๐จ๐จDisclaimer ๐จ๐จ In all my articles and posts, I do not mention instant profits because these currencies need time to develop and achieve profits, and some may not succeed. Please understand that the information I provide is to provide you with valuable insight to help you make an informed investment decision. Investing remains at your own risk. $ADA $XAI $RSR
Some traders have started to take profits in anticipation of tomorrow, and it is not unlikely that we will witness another surge followed by a drop before the markets close.
๐ธ The price has likely completed a descending wave (5) within the corrective wave (A), at a strong support area between: โข 101,171 โ 100,593 (Green Box)
๐ข The price response from this area was strong, suggesting the beginning of a corrective wave (B) upwards, which could extend towards the following levels: โข 0.5 = 106,120 โข 0.618 = 107,520 โข 0.786 = 109,514 (Resistance Area in Brown)
๐ This upward movement may merely be a rebound within a larger correction, so price behavior at this brown resistance should be monitored to determine if a downward wave (C) will begin later.
โ ๏ธ In case of a failed rise, the next support levels to watch are: โข 103,949 (Fibonacci 0.382) โข 102,596 (Fibonacci 0.618) โข 101,632 (Fibonacci 0.786)
โณ๏ธ The current scenario shows a classic corrective pattern (A)-(B)-(C), and the market is now in the process of forming wave (B). To confirm the continuation of the rise, the area of 107,500โ109,500 must be clearly breached.
๐ธ The price is still trading in a clear corrective range after completing wave (B) at the resistance levels between 0.8312 and 0.8466 (0.786โ0.886 Fibonacci ratio).
๐ป Wave (C) is likely to be in the process of completion, especially as the price approaches the gray support area between: โข 0.6258 (0.618 Fibo) โข 0.6013 (0.786 Fibo) โข Stronger support at 0.5722 (0.786 Fibo extended)
๐ There is also the possibility of a rebound towards corrective levels: โข 0.6940 (0.382 Fibo) โข 0.7199 (0.5 Fibo) โข 0.7467 (0.618 Fibo) โข and up to 0.7867 at most
โณ๏ธ If the price holds above the recent support and a rising five-wave pattern forms, this could signal the end of the correction and the resumption of the uptrend.
๐จ If the gray support is broken, we may see a target of the 0.5103 area in the medium term. #ADA#ูุงุฑุฏุงูู #Technical_Analysis#Elliottwave#Crypto#Altcoins
Dogecoin showed a good reaction at the 61.8% Fibonacci retracement level, enhancing the likelihood of the corrective movement concluding.
๐ There could be a small upward movement from 5 waves that started from the bottom, but we still need more wave structure to reliably confirm the trend reversal.
๐ Ideally, the low of this week should hold to keep the bullish scenario intact.
๐ Stop Loss: Close of 1-Day Candle below 0.0987
โ ๏ธ Risk Level: Medium to High ๐ก Only use capital that you can afford to lose Only use 30% of the allocated amount at each buying point. ๐ It is preferable to enter with a managed position size
: TOTAL3 โ Analytical Update: The current scenario is still under evaluation and close monitoring, but according to the current wave structure, there is a high likelihood that wave (b) is still forming within a corrective pattern (likely in the form of a zigzag or flat). If this estimate proves correct, we may witness an upcoming upward movement representing wave (c) of the larger circular correction, which could push the total market capitalization of altcoins to higher levels in the coming period. This scenario aligns with the behavior of many altcoins that are currently showing consolidation or corrective bounces, supporting the idea of an upcoming upward wave at the market level as a whole. ๐ Additional Notes: Any clear break of previous highs (or continued maintenance of higher lows) will reinforce this scenario. Wave (c), if it launches, may be impulsive and open the door to what is known as a mini Altseason. #TOTAL3 #AltcoinSeason #ElliottWave
๐ Time is running out for the bears! If a sustained breakout above the $106,000 level occurs in the next few days, the sellers' (bears') position will be extremely precarious.
And if that doesn't happen soon, then those drops may just be a big, fat trap after all.