Giovi6969

Ardor's failed bottoming process

BITTREX:ARDRUSD   None
Sometimes small caps new tech bottoms can fail.
We can clearly see that Ardor formed a particular bottom with the leg and foot stopping the downtrend (see the previous TA).
But sometimes the bottoming process can fail, when the value goes below the trendling corresponding to the first rounded bottom attempt.
Ardor's value ended up going below the rounded bottom trendline
There is still no Smma golden cross on the daily, which makes Ardor very late compared to other crypto assets, and therefore very risky as there is no visible bottoming pattern.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.