Hi friends! Welcome to PoopTrader's bearish forecast for Cardano Bitcoin Futures Contract.
While hype is all around Cardano as the next train to ride, I've been following it for 3 weeks for a good trade set up but sad to say for the bulls, it doesn't look any good right now.
There are a lot of reasons for this as the chart is full of bearish signals.
1) A Bearish Gartley Variant formed.
2) A Hidden Bearish RSI Divergence signal appeared after it failed to make a higher high on its price while RSI made a higher high.
3) The 3 Black Crows candle stick pattern which is a bad omen is likely to complete after the 3rd candle close. If it manages to complete the candlesticks pattern, this will confirm the bearish trend for $ADA.
Once confirmed, this will likely push the price lower to break a trendline support and will result to yet another bearis formation which is the inverted bump and run pattern. Caution should be exercised in this trade setup because the initial drop did not have significant volume and can be deduced as a bullish drop. A bullih trade setup will likely form after this.
This is just a guide, not a trading advise.
Hit like and follow for more chart updates!
Thanks
-Your Bearish Poop Trader
While hype is all around Cardano as the next train to ride, I've been following it for 3 weeks for a good trade set up but sad to say for the bulls, it doesn't look any good right now.
There are a lot of reasons for this as the chart is full of bearish signals.
1) A Bearish Gartley Variant formed.
2) A Hidden Bearish RSI Divergence signal appeared after it failed to make a higher high on its price while RSI made a higher high.
3) The 3 Black Crows candle stick pattern which is a bad omen is likely to complete after the 3rd candle close. If it manages to complete the candlesticks pattern, this will confirm the bearish trend for $ADA.
Once confirmed, this will likely push the price lower to break a trendline support and will result to yet another bearis formation which is the inverted bump and run pattern. Caution should be exercised in this trade setup because the initial drop did not have significant volume and can be deduced as a bullish drop. A bullih trade setup will likely form after this.
This is just a guide, not a trading advise.
Hit like and follow for more chart updates!
Thanks
-Your Bearish Poop Trader