ADAUSD Analysis/ST Correction LT Bullish/Exch.Discrepancies/Fibs
ADAUSD
A couple weeks ago I published a chart with ADA analysis calling for further retracement to the 61.8% Levels for March-July Swing.
This video reiterates that analysis, while also documenting the price discrepancies between a few different exchanges, such as HitBTC, Bittrex, Kraken and, of course, Binance!
I am still expecting ADA to test the 61.8% Fibonacci Retracement Levels, relative to the exchange it is listed on!
I did not Note in the Video, however; That it makes more sense that the Bittrex Chart would appear weaker than the other exchanges! It seems logical that Investors holding their ADA on the exchange have been terribly frustrated and have become impatient with Bittrex due to the extended amount of time Bittrex and Cardano are taking to Implement Shelley Era Wallet Software! I know because I too hold a little ADA on Bittrex.
But I've held on, whereas, it seems people have sold their ADA to relocate to another exchange, sacrificing the costs to be able to in theory re-buy on a different exchange in order to be able to eventually migrate the ADA to their Staking Wallet of choice. So yeah, Bittrex chart suffers from that IMHO!
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Local Support For Now...
Should BTC continue to correct we may see another leg down for ADA to 0.05 area(0.786 Fib).