Cardano Retrace Round 2 (Bearish Divergence)
Updated
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.
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.
Comment
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.
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