Cardano bottomed 20-March vs Bitcoin and this can be confirmed through multiple chart signals.
Feel free to boost and let's dive in.
First, we have a double bullish divergence, classic, plain and simple.
We can see Cardano (ADABTC) printing a long-term lower low between March 2023 and May 2022.
The MACD on the other hand printed a long-term higher low in this same time window:
The RSI's bullish divergence is younger but still valid and strong, March 2023 vs Dec. 2022:
The signal is still valid and good.
Next, for a low/support confirmation is the volume signal.
We have high volume May 2022, just check the volume line/bar on this date on the chart.
March 2023 as a new 10 months low is hit, no volume/low volume.
A new low with no volume signals that this move is either weak, already over or just the market looking for liquidity rather than a trend continuation move.
With all this said, there can still be more correction but this is a low probability scenario.
A new low can be hit with the same conditions described now because it is still early on the bounce and no volume on the way up.
Now, looking at the other Altcoins, such as XRPBTC and SXPBTC, we see the reversal is already taking place.
Thank you for your continued support.
Namaste.
Feel free to boost and let's dive in.
First, we have a double bullish divergence, classic, plain and simple.
We can see Cardano (ADABTC) printing a long-term lower low between March 2023 and May 2022.
The MACD on the other hand printed a long-term higher low in this same time window:
The RSI's bullish divergence is younger but still valid and strong, March 2023 vs Dec. 2022:
The signal is still valid and good.
Next, for a low/support confirmation is the volume signal.
We have high volume May 2022, just check the volume line/bar on this date on the chart.
March 2023 as a new 10 months low is hit, no volume/low volume.
A new low with no volume signals that this move is either weak, already over or just the market looking for liquidity rather than a trend continuation move.
With all this said, there can still be more correction but this is a low probability scenario.
A new low can be hit with the same conditions described now because it is still early on the bounce and no volume on the way up.
Now, looking at the other Altcoins, such as XRPBTC and SXPBTC, we see the reversal is already taking place.
Thank you for your continued support.
Namaste.
Trade active
LONG ADAM23 (ADABTC)Leverage: 5X
Buy-in: 0.00001320 - 0.00001420
Targets:
1) 0.00001565
2) 0.00001890
3) 0.00002100
4) 0.00002360
5) 0.00002690
6) 0.00003133
7) 0.00003777
Stop-loss: Close daily below 0.00001300
Liq. price: 0.00001160
Potential profits: 839%
Capital allocation: 3%
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🚨 You need PREMIUM trade-numbers to profit from Cryptocurrencies —Best timing & amazing results! 👉 lamatrades.com (Since 2017)
💥💥💥 Early 2025 Results (NEW)
t.me/masteranandatrades/6109
🏆 FREE Trade-Numbers
anandatrades.com
💥💥💥 Early 2025 Results (NEW)
t.me/masteranandatrades/6109
🏆 FREE Trade-Numbers
anandatrades.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.