Cardano (ADA/BTC)
Updated
Cardano:
- RSI @ 47 (nearing oversold).
- MACD crossed on Feb 9th., holding trend now, may continue sideways.
Falling Wedge?
Symmetrical triangle?
Can it break past 0.236 Fib Retracement level (black lines) or the 0.382 Retracement level (orange lines)?
New upper price channel forming?
Watch Bitcoin, everything is following btc right now. If BTC dips again under past 8k, expect ADA to follow and dip as well, down below the symmetrical triangle. If BTC can hold steady or take off to 9k-10k, expect ADA to follow similarly with bullish movements, hopefully breaking out of the symmetrical triangle towards the first resistance level - 0.236 Fib retracement level.
- RSI @ 47 (nearing oversold).
- MACD crossed on Feb 9th., holding trend now, may continue sideways.
Falling Wedge?
Symmetrical triangle?
Can it break past 0.236 Fib Retracement level (black lines) or the 0.382 Retracement level (orange lines)?
New upper price channel forming?
Watch Bitcoin, everything is following btc right now. If BTC dips again under past 8k, expect ADA to follow and dip as well, down below the symmetrical triangle. If BTC can hold steady or take off to 9k-10k, expect ADA to follow similarly with bullish movements, hopefully breaking out of the symmetrical triangle towards the first resistance level - 0.236 Fib retracement level.
Note
Cardano seems to be falling out of the symmetrical triangle, but still consistent with falling wedge pattern.
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