August 4th - Cardano (ADA) bull flag to print 250% move to $2.50
On the above 10 day chart price action is shown with a 40% correction since December last year. A number of reasons now exist for a bullish outlook, including:
Support and resistance
Price action confirms support on past 3 year resistance around 60 cents
Trend reversal
The support confirmation is followed by higher low and higher high prints.
The Bull flag
A measured move from the first impulsive wave will see price action move to the previous all time high of circa $2.50
Summary
The flag set up is fairly reliable with a high success rate for continuation with 60% probability. However avoid greed at the forecast area, many people entered the market at $2.50 in 2021. This was the worst possible moment and have been waiting for this opportunity to exit. Do not be their exit liquidity!
Is it possible price action continues lower? Sure.
Is it probable? No.
Ww
Dagangan aktif
Active on publicationNota
GRM support confirmed.Nota
Whether the forecast is met or not, close longs by mid October at the latest. Don't be exit liquidity.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.