Bitcoin drifted lower to reach the lower trendline before breaking out of the upper trendline. Looking for further upside through the recent consolidation range as wave 3 progresses. The outlook remains bullish.
Cardano has progressed with a pattern most easily counted as 3 waves up and 5 down, suggesting the current correction has likely not finished. Anticipating a further pullback in the current wave 2. There is a chance the small wave 1 label is actually an X wave, which would favor 1 more low below .075 to form a triple zig-zag. If so, ideal stopping ranges are at the 61.8% and 71.6% retracement levels. The current low has already reached the initial target given at the start of the correction. A break of the small wave 1 high would give more credit to the bullish view short term. Breaking out of the descending channel was a good start.
Happy Trading!