Broke the long term support (yellow line).
All indicators bearish.
My best bet is we are going back to the green block. When we get there, I will do another analysis to check the turning point.
Two scenarios can now happen. First is breaking from the wedge up to the red block. Then down. Other scenario is possibly directly down along the red curve.
If you want to play short term, buy in the breakout from the purple wedge. Target is the red block. I see this as a 40% chance. 60% chance we are going along red curve.
All indicators bearish.
My best bet is we are going back to the green block. When we get there, I will do another analysis to check the turning point.
Two scenarios can now happen. First is breaking from the wedge up to the red block. Then down. Other scenario is possibly directly down along the red curve.
If you want to play short term, buy in the breakout from the purple wedge. Target is the red block. I see this as a 40% chance. 60% chance we are going along red curve.
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Our previous analysis of Cardano met all targets exactly. Please check the previous idea on Cardano.
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If you like and agree, please remember to press the like buttons as this will increase my exposure on Tradingview :-)
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First target = 1400SAT
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Scenario 1 was triggered. Trade active
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This is a short term trade.
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Good development of scenario 1. Going to our green block.