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Cardanotrade

ADAUSDT Small Analysis| Cardano Long EntryHello, traders! Today we'll speak about Cardano. As usuall, wuthout extra words have a look at the chart. Wedge has already been broken above thus we are about to see a huge growth in my opinion. This broke is accepted by bullish divergence with Chaikin Oscilator. Thus, you can see possible trade on the picture. While I'm writing this words the price is growing. Don't waste time guyes and enter. As you know, you should make your own analysis to boost your trading skills but not follow my thoughts blindly.
by Skyrexio
4
ADAUSDT Analysis showing possible drop.BINANCE:ADAUSDTPERP is completely crazy, it's one of the coins that showed most strength in the dump and now. Checking the 4h timeframe, I see 3 legs to the upside and now and M formation or double top, meaning we could now see a nice retrace in terms of %. In this case I would go for a swing trade, I think Market Makers will try to recover the nPOC's (Possible Retrace #1, #2 and #3) since they probably have lots of shorts positions over there. I will personally take a short because I can see different confluences in the chart that makes me think we will drop from now. The confluences I see are: The first leg of the big M formation has lots of mini-M's in it. The first leg has stopping volume and lots of pins to the high, in other words, lots of traders longed the top and they are trapped. The second leg of the big M formation shows a vector candle (retail traders longing and Market Makers shorting) followed by a red vector candle (stop-hunt rise, drop). We are very extended from EMA's on the 4h timeframe. We have lots of green vector candles and nPOC's that market makers will recover when they want. Moonboys are thinking this is the retrace before the next pump, they think this is a "dip". TDI on the 1h timeframe shows possible bounce. Finally, we need to understand that the market has a cycle of 3 levels of uptrend, and then 3 levels of downtrend. The first three levels of uptrend have been completed, that's why we can see an M formation. In case price exceeds the first leg high the pattern would be completely invalidated, still, I would wait for the close of the candle since that could be another stopping volume candle to trap more traders and build more shorts at higher prices. Talking about take profits I will close my positions in the following points: 2.6088 (Possible Retrace #1 - 4h Candle nPOC) 2.2335 (Possible Retrace #2 - 4h Candle nPOC) 2.1259 (Possible Retrace #3 - 1d Candle nPOC) Close 100% of the position 200 EMA (4h)
Short
by chutireality