CARDANO|The start of a new bullish wave
Updated
Hello friends, I hope you are doing well.
You can see the popular Cardano currency in the 4-hour time frame.
Now it would be a good place for us to have an analysis of this currency.
In the daily time frame, it had an eroding downward trend in the form of a descending channel, which has now broken this channel upwards. In fact, it is also considered a flag pattern.
In the 4-hour time frame, a descending channel has broken upwards, and an important supply area that has prevented price growth twice has also broken upwards. This is a sign of aggressiveness and significant upward movement.
Bitcoin is very bullish and Cardano shows signs of further growth.
Look for opportunities to enter buy positions in the demand areas drawn on the chart.
The short-term targets are 0.61 and 0.64, and the long-term target is 0.83.
You can see the popular Cardano currency in the 4-hour time frame.
Now it would be a good place for us to have an analysis of this currency.
In the daily time frame, it had an eroding downward trend in the form of a descending channel, which has now broken this channel upwards. In fact, it is also considered a flag pattern.
In the 4-hour time frame, a descending channel has broken upwards, and an important supply area that has prevented price growth twice has also broken upwards. This is a sign of aggressiveness and significant upward movement.
Bitcoin is very bullish and Cardano shows signs of further growth.
Look for opportunities to enter buy positions in the demand areas drawn on the chart.
The short-term targets are 0.61 and 0.64, and the long-term target is 0.83.
Trade active
Traders who want to choose a currency to hold, I think Cardano currency is a good place to buy it now.
Trade active
As I expected, it reached the 4-hour demand area, and seeing the hammer candlestick in the 1-hour time frame and breaking the last upward trend, you could enter a buying position.
Friends who use this buying position, stick to your targets and loss limit and don't exit the position early.
Trade active
You can see that the Cardano currency, with its fall, once again hit the 4-hour demand area, which we saw in the previous update moving upwards from this area, once again made a significant upward movement.It is currently on its way to the first target.
Trade closed: target reached
tp 1 and tp2 is reached I hope it was useful and you used the updates well.
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