Cardano Retrace Round 2 (Bearish Divergence)

5 ก.ค. 2020

Here we go again...

Cardano (ADABTC) might have peaked.
We have strong bearish divergence with the RSI and MACD.

The divergence is marked here with a purple line.
Notice ADABTCs price closing higher while the MACD and RSI are closing lower.

The colored dashed lines (grey, green, blue) on the chart are the main/strong support levels where ADABTC can find support if prices drop.

We also have a pattern looking similar to a rising wedge.
When we have a falling wedge, a jump normally follows... With a rising wedge, a drop can come next.

Namaste.

8 ก.ค. 2020

บันทึก

Complete failure on this one...
"Focus on the altcoins..."

Do not short altcoins on a bullish altcoins market... Regardless of the signals.

LESSON LEARNED!

Namaste.