Potential buy opportunity at the triangle bottom
Hi All!
It is my personal opinion that Cardano looks like it wants to re-trace here before finally breaking out of its symmetrical triangle.
The 4 hour RSI looks like a failed breakout on its most recent small run to the triangle downtrend resistance line.
Stoch RSI shows us overbought during a downtrend, which makes me think we head down in the near future.
I think that we could potentially go near the bottom of the triangle, around the .618 fib and below.
Buy Zone is from 1147 sats all the way down to about 1113 sats approximately.
Please check this out and maybe you will have good luck with this idea!
Thanks!
It is my personal opinion that Cardano looks like it wants to re-trace here before finally breaking out of its symmetrical triangle.
The 4 hour RSI looks like a failed breakout on its most recent small run to the triangle downtrend resistance line.
Stoch RSI shows us overbought during a downtrend, which makes me think we head down in the near future.
I think that we could potentially go near the bottom of the triangle, around the .618 fib and below.
Buy Zone is from 1147 sats all the way down to about 1113 sats approximately.
Please check this out and maybe you will have good luck with this idea!
Thanks!
Trade active:
Buy Zone reached.