✴️ Cardano Update | Normal Correction Reaching Its End!
It is normal to see a correction after a strong bullish breakout, this is happening with Cardano and other Altcoins that broke bullish last week.
We expect these small retraces to last between 3 and 9 days, this one is reaching its end.
How do we know that this is a correction rather than the end of the bullish action?
By looking at the volume; Follow me.
We get ultra-high volume 13-July to break above EMA50 and EMA100.
The following five days have really low volume, these are the red days that followed this bullish breakout.
This is the retest, retrace or however you want to call it.
The good news is that once this is over, we tend to experience additional growth.
The fact that the volume is high/big on the bullish breakout and low on the retrace, tells us that the bulls are still in control.
If you look at other charts that went through this same pattern, they already moved up.
First the breakout, a few days red and then more growth.
Patience is key.
Namaste.
P.S. While the bigger Altcoins retrace, the smaller Altcoins tend to move ahead, this is happening.
We expect these small retraces to last between 3 and 9 days, this one is reaching its end.
How do we know that this is a correction rather than the end of the bullish action?
By looking at the volume; Follow me.
We get ultra-high volume 13-July to break above EMA50 and EMA100.
The following five days have really low volume, these are the red days that followed this bullish breakout.
This is the retest, retrace or however you want to call it.
The good news is that once this is over, we tend to experience additional growth.
The fact that the volume is high/big on the bullish breakout and low on the retrace, tells us that the bulls are still in control.
If you look at other charts that went through this same pattern, they already moved up.
First the breakout, a few days red and then more growth.
Patience is key.
Namaste.
P.S. While the bigger Altcoins retrace, the smaller Altcoins tend to move ahead, this is happening.
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