Cardano is currently forming a descending triangle pattern, which is often seen as a bearish continuation signal.
The price is forming lower highs and repeatedly testing a horizontal support level. In this pattern, the breakout tends to happen downwards, with a likelihood of around 64%.
To verify the pattern:
Now it is time to look for a breakout below the support level on significant volume. However, remain cautious of false intrabar breakouts that may occur.
The price is forming lower highs and repeatedly testing a horizontal support level. In this pattern, the breakout tends to happen downwards, with a likelihood of around 64%.
To verify the pattern:
- Diminishing volume
- Multiple touches on both trendlines
- Downward upper trendline
Now it is time to look for a breakout below the support level on significant volume. However, remain cautious of false intrabar breakouts that may occur.
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Innovative all-in-one trading and backtesting platform
cleo.finance
Test trading strategies on crypto, stocks, indices, forex with decades of 1-min data.
cleo.finance
Test trading strategies on crypto, stocks, indices, forex with decades of 1-min data.
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.