H4 Cardano price is trading above the Ichimoku cloud, indicating an uptrend and the possibility of buying from the cloud. RSI is clearly overbought, and divergence is formed between the price and the oscillator. Conclusion: It is worth considering purchases in the Ichimoku cloud from key support levels of Fibonacci (50% - 61.8%). H1 The price broke through the rising channel and began to decline. RSI at oversold level. Conclusion: We advise you to wait until the price is fixed below the Ichimoku cloud and returns at the overbought level of RSI.
@QubitTech, Btw, I was just confused about the two charts, can you tell me the difference between the two(apart from the fact that one is 4hour time frame and other is 1hour) and why they have different price projections?
QubitLife
⋅
@learneternal, It is always worth starting from the older order to the younger.
H1 shows a local picture with a probable correction model.
On H4, you can see of the end model of the local correction and the continuation of the trend according to H4 are displayed.
learneternal
⋅
@QubitTech, Got it, thanks a ton for your quick response. :)
QubitLife
⋅
@QubitTech, This is called "time frame synthesis."
When you starting analysis from the older trend and predict the model in the younger interval. In the process, you are trying to identify a correction model and find a good place to make an trading operations.