ACardano / Bitcoin
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Cardano(ADABTC) to continue selling off?

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Previous post for Cardano (ADABTC) based on its 4hr timeframe made mention of the bullish channel in Cardano (ADABTC) that captured the meandering price action from July 2, 2018.

The 1 hour timeframe of Cardano (ADABTC) is shown in this analysis as opposed to the 4hr in the previous analysis in order to get a better view of price action and the channel.

The horizontal dotted blue lines with price at ~0.00002181 marks the point at which Cardano (ADABTC) closed below the lower line of the bullish channel.

A breakout below the lower line of the bullish channel does imply further bearish action that should see Cardano continue to sell off. A quick and approximate estimate extent of the sell off can be derived by using the width of the channel and subtracting it from the breakout point at ~0.00002181.
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Trade closed as target is hit

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