Overall trend of the price is DOWN. Price has fallen down from descending triangle(orange) and has made fake breakout of the daily key level. Price was rejected at this level, we can also see bullish divergence (green) at this point. These two things strongly indicates that price should go up. Since overall trend is bearish it's risky to open long position. We can...
If we continue with correction these(green areas) are possible points of turn. Something similar happened before huge bullrun in 2017. These positions could provide some nice stop loss targets on fib. levels with high reward opportunity. If we stay above 250 this will idea is not valid.
Going long on Cardano we can see nice traingle crossing forming alongside with very nice ABCD pattern. I think that If we break 0.236 Fib. (0.00000841) we cool :). Also Cardano seems to by very nice altcoin with some solid background, looking forward to see results!
Target 1: 0.00001000
Target 2: 0.00001266
Target 3: Mooooon!