Cardano: Inverse head and shoulders is about to complete!!
Hello Traders,
As you recall from my analysis 2 weeks ago, I mentioned the formation of inverse head and shoulders.
Looking at the 4-hour chart for Cardano, we see that inverse head and shoulders is about to complete and I expect up trend from here!!
Unfortunately it took longer time than I anticipated as Bitcoin experienced major correction in last couple weeks.
So where are we heading from here?
As you can see from the 4-hour chart, we see that Cardano is about to contest EMA200 resistance. Additionally RSI is at overbought region, and Stoch RSI is about to cross.
Therefore, I expect some side-way movement in next couple days before the next rally.
April will be a great month for Cardano as Gogeun Test will be launched sometime this month. My short term targets are listed in the chart
1) 2500-2600 Satoshi
2) 3000-3200 Satoshi: overlaps with 23.6% Fibonacci retracement level
I will hold Cardano as long as I can as I see at least 10x-20x return in next 2 to 3 years.
Happy trading and give me a big thumb up if you enjoyed my analysis!
As you recall from my analysis 2 weeks ago, I mentioned the formation of inverse head and shoulders.
Looking at the 4-hour chart for Cardano, we see that inverse head and shoulders is about to complete and I expect up trend from here!!
Unfortunately it took longer time than I anticipated as Bitcoin experienced major correction in last couple weeks.
So where are we heading from here?
As you can see from the 4-hour chart, we see that Cardano is about to contest EMA200 resistance. Additionally RSI is at overbought region, and Stoch RSI is about to cross.
Therefore, I expect some side-way movement in next couple days before the next rally.
April will be a great month for Cardano as Gogeun Test will be launched sometime this month. My short term targets are listed in the chart
1) 2500-2600 Satoshi
2) 3000-3200 Satoshi: overlaps with 23.6% Fibonacci retracement level
I will hold Cardano as long as I can as I see at least 10x-20x return in next 2 to 3 years.
Happy trading and give me a big thumb up if you enjoyed my analysis!
Comment:
If Cardano manages to surpass 2386 Satoshi today, it will be a breakout!
Comment:
I see bear flag in majority of crypto.
Big Caps: BTC, ETH, XRP, LTC, ADA, NEO, XMR, IOTA, TRX
Be careful.
Big Caps: BTC, ETH, XRP, LTC, ADA, NEO, XMR, IOTA, TRX
Be careful.