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Cardano Bitcoin FC, Looks TerribleHi friends! Welcome to PoopTrader's bearish forecast for Cardano Bitcoin Futures Contract. While hype is all around Cardano as the next train to ride, I've been following it for 3 weeks for a good trade set up but sad to say for the bulls, it doesn't look any good right now. There are a lot of reasons for this as the chart is full of bearish signals. 1) A Bearish Gartley Variant formed. 2) A Hidden Bearish RSI Divergence signal appeared after it failed to make a higher high on its price while RSI made a higher high. 3) The 3 Black Crows candle stick pattern which is a bad omen is likely to complete after the 3rd candle close. If it manages to complete the candlesticks pattern, this will confirm the bearish trend for $ADA. Once confirmed, this will likely push the price lower to break a trendline support and will result to yet another bearis formation which is the inverted bump and run pattern. Caution should be exercised in this trade setup because the initial drop did not have significant volume and can be deduced as a bullish drop. A bullih trade setup will likely form after this. This is just a guide, not a trading advise. Hit like and follow for more chart updates! Thanks -Your Bearish Poop Trader
AShort
by PoopTrader
ADA:BTC Descending Triangle + Bear Flag is likely to = doom I believe that it is possible to beat the market through a consistent and unemotional approach. This is primarily achieved through preparing instead of reacting. Click here to get my complete trading strategy and click here to learn more about how I use the indicators below! 1-2 days: Breakdown bear flag | 1 week: 1000 Sats | 1-3 month predictions: < 1,000 Sats Previous analysis/position: N/A Patterns: Descending triangle + Bear flag Horizontal support and resistance: S = 1830 Sats | R = 1900 Sats 12 & 26 EMA’s (calculate % difference): 12 currently acting as resistance | 26 = -4.93% 50 & 128 MA’s: 50 = -10.49% | 128 = -28.13% FIB’s: 0.236 = 2580 Sats | 0 = 618 Sats Candlestick analysis: Doji at resistance Ichimoku Cloud: Fully bearish, Tenkan and Kijun starting to diverge in bearish manner. TD’ Sequential: R-3 = R-2 on weekly Visible Range: HVN at 1858 Sats with 1m lookback. HVN at 2146 Sats with 1 year look back. Bollinger Bands: MA on daily is acting as resistance Trendline: N/A Daily Trend: Chop Fractals: Down = 1658 Sats | UP = 1907 Sats On Balance Volume: Just made a higher high for a bull div ADX: ADX getting ready to cross 25 Chaikin Money Flow: Finding resistance under -0.05 RSI (30 setting): = 41.7 | higher lows and higher highs Stoch: Trending up Conclusion: 1st Entry = Breakdown of bear flag 2nd Entry = Breakdown of horizontal support Backup Plan = Sell if we get a throwback to the triangle. Stop for the first two entries = 1955 Satoshi's
Short
by Sawcruhteez
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