Cardano (ADA) | Mixed Signals, Bullish or Bearish?

30 jun 2020

Cardano (ADABTC) had a great run growing as much as 118% since hitting a low in late March... What will happen next?

What happens next is really for the market to decide.
We are going to be reading the chart signals but we remain open, always, to all possible scenarios.

Technically ADABTC is in full bullish territory... Prices are high up and trading above EMA10, but just as I mentioned above, everything can always change.

When we look at the indicators MACD and RSI, we can notice the indicators closing lower each day. ADABTC is closing higher. We call this divergence, bearish divergence in this case.

The trading volume is really low.
And we also have a lower high when we look at the candle-wicks.

If prices break below EMA10 on a lower high wick compared to the 4-June peak, we will see ADABTC hit EMA100 (0.00000694) on the next drop, since EMA50 has already been hit.

This is a complex analysis, I know, but it is done based on experience and normally it always succeeds.

Conditions for change
If prices break and close above 0.00000950. The above signals become invalid and a new analysis is needed.

Thanks a lot for reading and for your continued support.
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Namaste.

1 jul 2020

Nota

Analysis invalidated.

4 jul 2020

Nota

The drop will happen soon... Very likely.
I will just let it play of course because I shared too soon.

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