VincePrince

Cardano, Forms Potential Bull-Flag, Here Is How It Completes!

BINANCE:ADAUSD   Cardano / US Dollar (calculated by TradingView)
Hi my friends,

Welcome to this analysis about Cardano , we are looking at the 30-minute timeframe perspective, the recent events, the current formational structure, and what we can expect the next times. Cardano recent times has established a strong uptrend with high exaggerated upside volatility in the schedule, this can be determined on the global perspectives as well as on the local, now it is a significant question how long the uptrend will move on and how high Cardano will value, therefore I discovered a meaningful formation within the current price-action that can be a worthwhile source the next times, therefore we are looking at the important levels and likely outcomes we should consider here.

As when looking at my chart we can watch there Cardano is now trading in this descending-channel-formation marked in my chart in blue, furthermore, Cardano has developed this coherent wave-count within the formation already completing waves A to C and now about to form the waves D and E that will finalize the whole wave-count when moving into the confirmational-bounce-cluster marked in my chart in blue. When Cardano manages to bounce decisively within the cluster this can be the great origin of a channel breakout and therefore also confirmation of the descending-channel-formation as a bull-flag with activation of upside targets ahead. Overall this formation can also be traded either aggressively with immediate entry or conservative with entry after the final confirmation has shown up, although the aggressive approach is also possible here the conservative will be much smarter as it will point to the final setup and lie fundamental solid ground for further continuations and the next impulse establishments, traders need to decide according to individual risk-preferences, it will be an interesting journey ahead.

In this manner, thank you for watching the analysis, have a good start into the New Year 2021, many thanks for all people supporting, all the best!
"Good luck is when opportunity meets preparation."

Information provided is only educational and should not be used to take action in the markets.
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