I am going to let Wyckoff do all the talking on this one. Cardano was born, and then it died. With Shelley out and progressing nicely, it is time for Cardano to be born again. Here is to all those betting on blockchain 3.0 and another moon rally!
This one is simple speculation:
1/ Bottom pattern forming following massive capitulation - those who wanted to sell probably did
2/ Higher dipping pattern
3/ Building momentum
4/ Scarce asset, full float in circulation (11 MM)
5/ Remaining hype for functional product launch
6/ Trading above Ichimoku cloud on 4-hr
Buy signal: 4-hr close above 0.0045 BTC/REP...
We can all admit at this point that ETH (a.k.a mETH or dETH depending on which side of the aisle you stand) has just went through a price bubble. Price is currently trading ~ 55% below the bubble high. In my view, the market has failed to capitulate to the selling pressure. I think the chart shows a nice set up for what should produce a capitulation event in the...