Hey everyone! Hope everyone is holding their crypto because big gains are on the way and here to no stay for too long.
A couple of observations with Cardano:
(1) BEARISH MOMENTUM DECREASING / BULLISH MOMENTUM CONSTANT
Quite self-explanatory here. With a constant Bullish range and decreasing Bearish range, we can assume that the scales are tipping back to the Bullish side with Bulls rallying the market every time to the same position and the bears increasingly struggling to pull the price down. Once the Bearish momentum is diminished, we should see a nice rally to the upside.
(2) RISING WEDGE FORMATION
I know that a rising wedge formation is usually a reversal indication pattern. Now, after this rally I do believe we will receive a breakout to the upside. We have seen this time and time again in a bull run and because we are receiving the same high high's and higher lows, it may just be building upwards pressure. I won't rull out the possibility of a reversal pattern although Cardano does have hype behind it similar to XRP in 2017.
(3) BBW SQUEEZE
Self explanatory here. When we see a squeeze on the Bollinger Bands, we can assume tight consolidation followed by a breakout and rally.
Please let me know your thoughts and have a great day!
Love, peace, Seb.
A couple of observations with Cardano:
(1) BEARISH MOMENTUM DECREASING / BULLISH MOMENTUM CONSTANT
Quite self-explanatory here. With a constant Bullish range and decreasing Bearish range, we can assume that the scales are tipping back to the Bullish side with Bulls rallying the market every time to the same position and the bears increasingly struggling to pull the price down. Once the Bearish momentum is diminished, we should see a nice rally to the upside.
(2) RISING WEDGE FORMATION
I know that a rising wedge formation is usually a reversal indication pattern. Now, after this rally I do believe we will receive a breakout to the upside. We have seen this time and time again in a bull run and because we are receiving the same high high's and higher lows, it may just be building upwards pressure. I won't rull out the possibility of a reversal pattern although Cardano does have hype behind it similar to XRP in 2017.
(3) BBW SQUEEZE
Self explanatory here. When we see a squeeze on the Bollinger Bands, we can assume tight consolidation followed by a breakout and rally.
Please let me know your thoughts and have a great day!
Love, peace, Seb.