Cardano has found a bottom on the daily chart and is making bullish moves again above the daily 55 Moving Average.
With many market cycles looking to have completed in the last months, Cardano is also looking more bullish with every higher high.
It is currently retracing the last leg up looking for new support and I would like to scale into a fresh long position from around the 0.50 Fibonacci level to around the 0.618 fib. These levels represent previous resistance levels which should provide some support now that we managed to break higher.
The goal is to secure a healthy position in the bounce from these levels and to ride the position to a retest of the last high or add even more when it breaks the last high.
As always, watch the King: All big moves in BTC will almost ALWAYS impact any market traded dominantly in BTC. (this means any XXX/BTC pair)
For discussion you are always welcome in our Discord channels. Feel free to check out our articles on Coinstreet.NL or jump in the discord channel to join the trade talks or learn about Coinstreet.
With many market cycles looking to have completed in the last months, Cardano is also looking more bullish with every higher high.
It is currently retracing the last leg up looking for new support and I would like to scale into a fresh long position from around the 0.50 Fibonacci level to around the 0.618 fib. These levels represent previous resistance levels which should provide some support now that we managed to break higher.
The goal is to secure a healthy position in the bounce from these levels and to ride the position to a retest of the last high or add even more when it breaks the last high.
As always, watch the King: All big moves in BTC will almost ALWAYS impact any market traded dominantly in BTC. (this means any XXX/BTC pair)
For discussion you are always welcome in our Discord channels. Feel free to check out our articles on Coinstreet.NL or jump in the discord channel to join the trade talks or learn about Coinstreet.