Cardano(#ADA) Sellers are losing Power
1. Looking at 4H timeframe, ADAUSDT have formed a nice bearish flag which may not dip lower from the last swing low.
2. Viewing from 1D timeframe you can clearly see that buyers are beginning to dominate the market but it seems the big player are waiting to see price hit the lower bounds of our channel before they come to pump the price to a new
swing high.
3. Potential target would be a touch of upper bound of our channel
4a. I may buy and and hold now
4b. I may also buy again when price dips to complete the bearish flag setup spotted on 4H (history have shown that this setup more often than not gets completed) + 1D time frame shows that price need to kiss the trendline for buyers to
completely take over
5. I will add stop loss way below my potential new swing low.
6. Please comment let know know what you think.
PPPDirhams.
Disclaimer: This is just my idea not a financial advice. Am not in any way responsible for the end results if adapted by anyone. Trade cautiously as there are chances that you will lose your investment..
UPBIT:ADAUSDT
