Cardano, First Bull-Flag Fully Completed, Next About To Form!
Hi my friends,
Welcome to this update-analysis about Cardano, we are looking at the 2-hour timeframe perspective, the recent events, the current formational structure, what we can expect the upcoming times, and how to possibly handle the situation appropriately. Since the last time, Cardano has fully completed the bull-flag and formed the breakout above the boundary to finalize the wave C in the structure and show up with some solid upside movements, if you did not see this analysis already I highly recommend it to watch to have a full-depth-overview, now as Cardano has shown up with this it is forming a new interesting formation here, therefore I detected all the important levels and likely outcomes we should consider.
As when looking at my chart we can watch there Cardano now about to form this second major possible bull-flag-formation marked in blue in my chart, this formation has a similar setup like the previous one and it actually already nearly completely fully emerged with the coherent wave-count within the formation with just the wave E remaining that will finalize this whole wave-count in the blue back-up-cluster marked in my chart where Cardano has several supports lying and therefor good potentials to bounce from this zone to the upside which will fully confirm when Cardano moves above the upper-boundary of the bull-flag and closes there to continue bullishly to the upside. Considering this case it is from high importance that Cardano does not move below the lower boundary again as this will invalidate the formation and point to firstly lower levels to reach however this scenario is currently not the highest likely and the bullish breakout with the wave E developing will be the most likely one, after these targets are reached it has to be elevated if Cardano manages to continue further or firstly forms a reversal.
In this manner, thank you for watching the analysis, have a good Happy New Year's Eve, many thanks for all people supporting this year, all the best!
"The high destiny of the market is to explicate, rather than to speculate."
Information provided is only educational and should not be used to take action in the markets.
Welcome to this update-analysis about Cardano, we are looking at the 2-hour timeframe perspective, the recent events, the current formational structure, what we can expect the upcoming times, and how to possibly handle the situation appropriately. Since the last time, Cardano has fully completed the bull-flag and formed the breakout above the boundary to finalize the wave C in the structure and show up with some solid upside movements, if you did not see this analysis already I highly recommend it to watch to have a full-depth-overview, now as Cardano has shown up with this it is forming a new interesting formation here, therefore I detected all the important levels and likely outcomes we should consider.
As when looking at my chart we can watch there Cardano now about to form this second major possible bull-flag-formation marked in blue in my chart, this formation has a similar setup like the previous one and it actually already nearly completely fully emerged with the coherent wave-count within the formation with just the wave E remaining that will finalize this whole wave-count in the blue back-up-cluster marked in my chart where Cardano has several supports lying and therefor good potentials to bounce from this zone to the upside which will fully confirm when Cardano moves above the upper-boundary of the bull-flag and closes there to continue bullishly to the upside. Considering this case it is from high importance that Cardano does not move below the lower boundary again as this will invalidate the formation and point to firstly lower levels to reach however this scenario is currently not the highest likely and the bullish breakout with the wave E developing will be the most likely one, after these targets are reached it has to be elevated if Cardano manages to continue further or firstly forms a reversal.
In this manner, thank you for watching the analysis, have a good Happy New Year's Eve, many thanks for all people supporting this year, all the best!
"The high destiny of the market is to explicate, rather than to speculate."
Information provided is only educational and should not be used to take action in the markets.
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