$ADA [1W]: mania phase expected

Main target of bull market 2020-2022 is ~$22.

• 1.618 Fibonacci extension of bear market 2018-2020;

• 3 Fibonacci extension of III-IV correction in bull market 2020-2022;

• extension of green, dashed trend line through I and III;

• target of similar move starting from the purple arrow to III; (see explanation below).

Nice comparison: I-II-1-2 versus B-C-IV-1-2, both

• start at top of correction (I-II and II-IV);

• correct to bottom of correction to test the yearly VWAP (blue line);

• then break the top of correction;

• and come down to test the 0.618-0.786 for support;

• while having a VWAP gap between 2 and purple arrow.

When copying the bars that followed (purple arrow to III) and pasting it at the current price position, a similar move would bring us exactly at ~$22 end of this year.

Live chart:

Tip: in the tradingview chart you can press the play button, to see how price evolved after this analysis was made. Also you can zoom in using the price and time bar. The chart is also "toggleable".

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DISCLAIMER: The targets that I identify are based on Technical Analysis and are by no means guarantees that these will be met. You can use (intermediate) targets to build your trading strategy to determine which price targets are strong take profit or stop loss levels. Always do your own research and don't blame me for your own trading decisions.