Beware: Cardano it's overbought and bearish divergencesAt the moment, Cardano was growing up 116% from 0.80 cents approximately so near of $1.50 dollars. But, at the moment, we can to see a correction in the market and Cardano it's in formation of this bearish risign wedge, without validation, but for this bearish rising wedge it's going to be validated, we would neeed to break out the first support at $1.15 dollars and make the pull back to a true confirmation to then, once of my plan it's it below of this paragraph.
This it's the H1 timeframe and well, that mean a short position from $1.15 dollars to $0.95 cents approximately as it's said in the chart. now, we can't to keep this short position becuase this could be a good zone to bought at $0.95 cents and then, pump, for that, we would need to be cautelous. Now, if Cardano break down the second support of $0.95 cents, so we can to see a drop of $0.79 cents approximately, but that it's realizing in H1 timeframe as we know when the price it's below of the 3 EMAS 20, 50 and 200 period. But, in general, remember that Cardano it's in bullish trend for Daily timeframe and we cant to entry to short and short, in any moment, Cardano need to make a pump one of these level. Now if Cardano it's goees below of $0.79 cents, that it's a strong bearish movement and change of trend possible to dropping more. But, that it's not going to pass. becuase Cadano it's so bullish. And for that, I have this plan to short in H1 timeframe, but yes be conscient that Cardano it's bullish.
Finally, in Daily chart, we see that Cardano it's overbought that show us in the RSI and if you use MACD, you can to get both. But, Daily timeframe it's speak us that we can to see a correction of these level that I show you in h8 timeframe. For that, we going to be prepare. Remember, if you want to short Cardano below of $1.15 USD, be secure to have a bearihs candlestick in H1 timeframe, but in general, I do not trade a lot H1 timeframe when we are in the bullish trend, but yes, in correction, it's fascinant to know and be prepare to bought more cheap and apply the multitimeframe and have a plan for it.
Guys, if you found out that this idea it's so interesting in Cardano, please comment below and share this analysis with others traders.
And also, I'd reccomend my crypto broker called Simple FX if you want to trade cryptocurrency, I thinking to sell some Cardano for Chainlink in the exact conversion, and using this Chainlink that I bought for Cardano to open up a long position to bought the exact Cardano contract, for example: I thinking to sell 3,300 Cardano coins in my reseve to bought Chainlink, approximately it's around of 138 Chainlink coins, but I use this Chainlink to open up my exact position on Cardano contract of 3,300 Cardano (but contracts) using the leverage 1:1 and keep this contract to multiply my Chainlinks hot assets.
For example: imagine that I bought Cardano contracts at $1 dollar and exactly at $28 USD in the Chainlink price when I Bought 3,300 Cardano contract in this broker and I decide to sell Cardano contracts at $10 dollars. The magic it's the following, when I sell my Cardano contracts at $10 dollars, I can to earn over 1,000 Chaininks coins, and that it's amazing profit to accumulate Chainlinks just and simply using the levarage 1:1, And well, the Chainlink price it's up as your Chainlinks assets over 1,000 assets it's going to re-value more than you having, and you will multiply just keep the position in Cardano to $10 dollar or wharever, there's is not a limit target for it.
