Bitcoin is making the much anticipated correction after this big climb.
This is the first time it has been below the 50-period average since October, a very important level, and as shown in the chart the price could find support at the 0.5 and 0.618 Fibonacci levels and then rebound.
At worst it could go below the 200-period average, and in this case I will...
The last candle closed above 50 MA, a very important level in the H4 timeframe. The price seems ready to break through the resistance to reach $ 11. If the price also breaks the $ 11 resistance, the second target will be $ 14. This operation should be done with very low risk due to the very high volatility.
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Obv this is not a financial...
This is the type of analysis I prefer since it has low risk with high profit margins.
We can see how the price retraced to the 0.618 Fibonacci level creating a magic triangle. If the price manages to break out of the 50 MA, there could be strong upward pressure. Remember to leave a like!
The position on Cardano is running very fast. I expect a rejection of the resistance, but the climb being very strong can easily break the highs to start another wave.
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Cardano is gearing up for a big move for the first time after being listed on Coinbase. If the price does not close below the support line, the price can simply do + 50-60%. Remember to leave a like!
