Cardano BITTREX:ADABTC going through a consolidation after large bull run. A few hints for possible breakout in the near future. Currently awaiting further confirmation. No entree.
CAUTIONS: - weakening trend strengths increases likelihood of interpretation error of key signals & inconsistencies - future cloud thickness decline denotes indecision but confirms falling wedge formation
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https://www.tradingview.com/x/aUli6Xgs/INTERPRETATION Bearish pennant drove price further down. However, the recent Price-Cloud entry & breakout (although through narrow cloud) will be the first time this event has occurred since the end of the last bull run a few days ago. The next hours will be met w/initial selling pressure before transitioning to a period of increased buying pressure. Possible breakout imminent. A T&K bull cross above the cloud will be considered a strong buy.
POSITION Buy @ T&K bull cross assuming all variables constant. Continue to monitor if price drops back below cloud.
SIGNALS - Price-Cloud bull entry & breakout
CAUTIONS/CONFIRMATIONS - T&K bull cross (above cloud = strong buy signal) - Price-Cloud entry & breakout was through narrow cloud & may reverse
CAUTIONS/CONFIRMATIONS - T&K bull cross (awaiting for final buy signal) - Price-T&K bull cross stability - Price-Cloud entry & breakout was through narrow cloud
INTERPRETATIONS Bearish wedge resulted in decrease in further price. Possible price stabilization. Awaiting possible breakout bull run. Price-Cloud bull cross has been first successful event following the last bull run. Next 24 hours will be met w/initial selling pressure followed by increased buying pressure. If price manages to remain above w/T&K bull cross w/other variables constant, it will signal my time to buy.
INTERPRETATIONS Unlikely to hit target before retracement. Profit taken to free up funds despite potential of slight profit loss. Price will likely have a slight spike before dropping back to ~6500 level. Next entry & new target price after fall.
BUY SIGNALS - Initial spike followed by retracement 6000-6500 (expected bullish run following)
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POSITION Entry 100% @ 6350
INTERPRETATION Lowest price before bull run of expected >30%. Extrapolated graph will be posted as more data is gathered.
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INTERPRETATION Bearish sentiment unlikely to result in expected bear run. All short positions closed.