Cardano is breaking out of the symmetrical triangle. I set my targets at the fib levels, might leave some running for new all time high. Solid project and academic team, one of the most advanced ventures in the crypto-space.
Hey im new to all this crytp/trading world.
First i want to thank you for your TA.
When people put targets in their charts , it means we should sell at that point then wait for the dip and buy more ? or it mean is there is a chance that it can stop in that X target or move to Z target ?
The real question is : after reaching a target most of the time there is a bump after ? or it can go like a bull without stoping ? why putting multipple target ?
thanks
@ilyes1505, Those horizontal levels you can see on the chart are called fibonacci levels (from a fibonacci retracement, very useful tool, look it up). They usually represent strong resistance (which sometimes makes the price dump a little).
I like to take some profit here, because that's the safest and smartest thing to do. Sometimes the trend blows straight through resistance, but most of the time it tests those levels and when it eventually breaks through, it goes on to the next one. Repeat this for as long as there is bullish sentiment. Then reverse it.
ilyes1505
⋅
@Scyripto, Thank you a lot for your explanation , it is really nice from you !
what do you think now that we surpassed the line 0.618 (0.00001263) but we didnt touch the line 0.786 (we went back ) ..
Do you think it will comeback and go higher ? as you said if it breaks through it goes to the next one (we breaked through 0.618 / 0.00001263 )
RiseTX
⋅
it will have a high chance to dip if it doesn't break out of 780.
Scyripto
⋅
@cs678ft, I think that depends on what bitcoin is going to do, but yeah that's true
First i want to thank you for your TA.
When people put targets in their charts , it means we should sell at that point then wait for the dip and buy more ? or it mean is there is a chance that it can stop in that X target or move to Z target ?
The real question is : after reaching a target most of the time there is a bump after ? or it can go like a bull without stoping ? why putting multipple target ?
thanks