ADA/USDT – Week 48 – One last low?
Hello guys,
The Cardano chart is in the middle of a corrective structure. As you can see on the chart, we started the previous bull run on the 20th of July 2021 and 2 months later ended and started a deeper retracement. We will expect the market to make one more drop towards the support level before reversing.
Another possible scenario:
If we don't break the low and strongly break the resistance area from here, the chances are that if this move is followed up by a small correction we will start the bull run earlier than expected. So, keep a close eye on the PA.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
The Cardano chart is in the middle of a corrective structure. As you can see on the chart, we started the previous bull run on the 20th of July 2021 and 2 months later ended and started a deeper retracement. We will expect the market to make one more drop towards the support level before reversing.
Another possible scenario:
If we don't break the low and strongly break the resistance area from here, the chances are that if this move is followed up by a small correction we will start the bull run earlier than expected. So, keep a close eye on the PA.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Trade closed: target reached:
Target reached, we will now wait for buy setups. Trade with care.
