The purpose of this post is to have a quick look at the trendline for Cardano (ADABTC). Trendlines are the most important type of chart pattern. The trendline for Cardano (ADABTC) as drawn here on the Daily tf (red color) was breached slightly on May 28, 2018.
Price action recovered right after and is currently attempting to continue its bullish momentum. A break back below the long term trendline could see Cardano sell off to about ~ 0.00000605. Point of entry (POE) for a bullish trade is placed here at ~0.00003023 which is considered a safe point of entry than trying to pick a price bottom which can be very challenging.
More information on Cardano (ADABTC) is present on my website
Price action recovered right after and is currently attempting to continue its bullish momentum. A break back below the long term trendline could see Cardano sell off to about ~ 0.00000605. Point of entry (POE) for a bullish trade is placed here at ~0.00003023 which is considered a safe point of entry than trying to pick a price bottom which can be very challenging.
More information on Cardano (ADABTC) is present on my website