Hello,
Monthly Zone added to Cardano for reference to show where price has moved from and has a highly reactive zone where price will offer a large opportunity to buy from.
Why is this level important?
Well it is simple - price has offered a corrective retracement upon the dominant leaders sell off of BTC and ETH.
The price lows also net off the previous all time high and use this as a reference point to pivot from.
The previous three monthly wicks have shown opportune moments to add additional positions to current holdings for "longs".
Weekly zone
Again, the weekly has shown the Fibonacci retracement falling from the peak "0" referencing the pivot point where sellers entered the market.
Crypto's seem to heavily retrace to so this is the zone of interest.
Volume
At present the buyers are outweighing the sellers using the previous monthly data on the daily chart.
Dominant Crypto's - using the weekly chart - notice the trend of ETH, BTC respectively.
Enjoy the ride, Staying bullish on this one - using risk adjusted position sizing.
About me;
Student of Lupacapitalpartners - imbalance analyst.
Supplyanddemand trader
Technical approach to charting
Work in Investment banking, LDN - 3years in credit.
Many thanks,
XYHLX
Monthly Zone added to Cardano for reference to show where price has moved from and has a highly reactive zone where price will offer a large opportunity to buy from.
Why is this level important?
Well it is simple - price has offered a corrective retracement upon the dominant leaders sell off of BTC and ETH.
The price lows also net off the previous all time high and use this as a reference point to pivot from.
The previous three monthly wicks have shown opportune moments to add additional positions to current holdings for "longs".
Weekly zone
Again, the weekly has shown the Fibonacci retracement falling from the peak "0" referencing the pivot point where sellers entered the market.
Crypto's seem to heavily retrace to so this is the zone of interest.
Volume
At present the buyers are outweighing the sellers using the previous monthly data on the daily chart.
Dominant Crypto's - using the weekly chart - notice the trend of ETH, BTC respectively.
Enjoy the ride, Staying bullish on this one - using risk adjusted position sizing.
About me;
Student of Lupacapitalpartners - imbalance analyst.
Supplyanddemand trader
Technical approach to charting
Work in Investment banking, LDN - 3years in credit.
Many thanks,
XYHLX
