Cardano reached my second take profit. After such a strong momentum movement overtook XRP in the list of the largest cryptocurrencies and took 6th place.
ðĐWhat are the preconditions for a local correction?
ðķBreakout of the trend line and test it as a resistance.
ðķRising volumes on the previous momentum. Indicates that a major player made a big sell-off.
ðķWeakness of altcoins to the Bitcoin.
ðķBitcoin weakness near the $30K level.
ðĨFuel for the fall, will be traders who bought Cardano on rising momentum. In case of fall they will close their longs at loss and pushing the price down.
ðTargets:
0.51-0.54 - local target
0.45-0.47 - possible target
ðŧFriends, press the "like"ð button, write comments and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.
ðĐWhat are the preconditions for a local correction?
ðķBreakout of the trend line and test it as a resistance.
ðķRising volumes on the previous momentum. Indicates that a major player made a big sell-off.
ðķWeakness of altcoins to the Bitcoin.
ðķBitcoin weakness near the $30K level.
ðĨFuel for the fall, will be traders who bought Cardano on rising momentum. In case of fall they will close their longs at loss and pushing the price down.
ðTargets:
0.51-0.54 - local target
0.45-0.47 - possible target
ðŧFriends, press the "like"ð button, write comments and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.
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