✴️ Cardano To Go Down With Bitcoin (Caution Advised)

Let me start by saying that this statement, "to go down with Bitcoin," is only a temporary situation. It is based on an upcoming quite normal, standard and classic correction. I am a Cryptocurrency bull. But before being a bull I am your friend, your supporter, your follower, your teacher.

➖ My job is to warn you about what is happening with the charts in this Cryptocurrency market.
➖ My job is to alert you of upcoming great opportunities as well as of great potential danger.

➖ Opportunities when the market is about to grow.
➖ Danger when the market is about to retrace.

But if we are smart, even the dangerous part can be turned into an opportunity; that is for advanced traders.

Yesterday Cardano produced a higher high on wick compared to 14-Dec. 2023.
All of the bearish bias, potential and reasoning we've been doing is based on this fact; a lower high. Now yesterday this lower high is broken, what now?

Cardano (ADAUSDT) produced a higher high based on candle wick but not on close.
The wick hit a high of 0.7088 (29-Feb. 2024) while the high 14-Dec. 2023 peaked at 0.6800.

Now, yesterday's session closed at 0.6547 while the highest close in December happened at 0.6675. It can be tricky, but the candle close is "heavier" than the wick.

Today's session did indeed go beyond yesterday's candle close but there are some early signals of weakness and the volume low.

The trading volume is low, some weakness in the short-term timeframes and the bearish divergence with the RSI stays the same.

One needs to look very deep into the charts to see what I am seeing, but my job is to alert you of the drop before it happens; of the rise before it takes place.

I hope you are having a wonderful weekend.
My heart is overflowing with love that I wish to share.

I know we cannot predict the future but at least we can prepare.

Thank you for reading.

Feel free to follow if the content you enjoy.
Your support is appreciated.

Namaste.

Trade closed manually:

Update: Cardano produced a higher high now based on candle close.
So the analysis is mostly invalidated.

On a broader perspective, it can drop when Bitcoin drops which currently isn't the case.

I can do an update to see how far up it will go on this current move before any retrace takes place.

The general precaution can be valid but this analysis might not.
Feel free to ignore my bearish bias on this one.

Sorry for any trouble this might have caused you.

Thanks a lot for your continued support.

Namaste.