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.
๐ฉWhat are the preconditions for a local correction?
๐ถBreakout of the trend line and test it as a resistance.
๐ถRising volumes on the previous momentum. Indicates that a major player made a big sell-off.
๐ถWeakness of altcoins to the Bitcoin.
๐ถBitcoin weakness near the $30K level.
๐ฅFuel 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.
๐Targets:
0.51-0.54 - local target
0.45-0.47 - possible target
๐ปFriends, press the "like"๐ 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.
๐ฉWhat are the preconditions for a local correction?
๐ถBreakout of the trend line and test it as a resistance.
๐ถRising volumes on the previous momentum. Indicates that a major player made a big sell-off.
๐ถWeakness of altcoins to the Bitcoin.
๐ถBitcoin weakness near the $30K level.
๐ฅFuel 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.
๐Targets:
0.51-0.54 - local target
0.45-0.47 - possible target
๐ปFriends, press the "like"๐ 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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