Cardano (ADAH19) Bollinger Bands Bounce Signal (Possible?)
Updated
Cardano (ADAH19) on BitMEX just had a strong drop, which closed below 0.786 Fib. retracement support.
Looking at this drop with the Bollinger Bands on, we can see that the next candlestick is trading outside the bars. This signal can indicate and upcoming bounce.
There are more early signals for a possible bounce:
Conditions for change: If Cardano (ADAH19) on BitMEX continues down and closes below 0.00001128 then the above signals would be invalidated. No bounce and we would have to wait for a new set up. A new analysis is needed as the conditions would have changed.
Thanks a lot for reading.
Hit like if you found this trade idea useful.
Namaste.
Looking at this drop with the Bollinger Bands on, we can see that the next candlestick is trading outside the bars. This signal can indicate and upcoming bounce.
There are more early signals for a possible bounce:
- ADAH19 Price closed above the rising trendline.
- MACD remains above the neutral zone, while the RSI remains strong.
- Note: These are early signals, some more retrace, consolidation, and sideways action can be expected.
Conditions for change: If Cardano (ADAH19) on BitMEX continues down and closes below 0.00001128 then the above signals would be invalidated. No bounce and we would have to wait for a new set up. A new analysis is needed as the conditions would have changed.
Thanks a lot for reading.
Hit like if you found this trade idea useful.
Namaste.
Note
ADAH19 Is trading above EMA200, MA200, and Fib. support. This is starting to look bullish (potential upcoming bounce)... Hit LIKE if you want to see our FULL TRADE.Here is the chart:
Namaste.
Note
Trade: LONG ADAH19Leverage: 10X
Buy In: 0.00001136 – 0.00001154
Time Frame: 4H
Targets:
(1) 0.00001188 -Reached
(2) 0.00001202 -Next target
Stop Loss: Close 4H candle below 0.00001128
Liq. Price: 0.00001069
Profit Potential: 40.6% ROE
Capital Allocation: <4%.
Trade closed: target reached
Targets: (1) 0.00001188 -Reached
(2) 0.00001202 -Reached.
All targets reached!
40% Profits in 3 days.
Enjoy the profits.
Namaste.
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