###Update to previous analysis.
### China has dealt a very strong blow to Bitcoin and cryptocurrency, resulting in huge losses for the crypto business. Bitcoin was able to withstand and compensate for some losses.
This led Cardano to achieve the selling objective in the previous analysis.
I expect that China has now exhausted the strength of its attack on Bitcoin and others, and that it is time to compensate for the losses
# Analysis on the 4-hour chart.
# Analysis is based on trends and Wyckoff's strategy.
# It is below a red downtrend.
# At the end of the Wyckoff compilation phase (in blue), to the top.
---------
# strong probability:
*** It crossed the red downtrend to 1.8395.
*** Exceeding 1.8395 goes to 2.3733.
### China has dealt a very strong blow to Bitcoin and cryptocurrency, resulting in huge losses for the crypto business. Bitcoin was able to withstand and compensate for some losses.
This led Cardano to achieve the selling objective in the previous analysis.
I expect that China has now exhausted the strength of its attack on Bitcoin and others, and that it is time to compensate for the losses
# Analysis on the 4-hour chart.
# Analysis is based on trends and Wyckoff's strategy.
# It is below a red downtrend.
# At the end of the Wyckoff compilation phase (in blue), to the top.
---------
# strong probability:
*** It crossed the red downtrend to 1.8395.
*** Exceeding 1.8395 goes to 2.3733.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.