ADA Cardano - Prepare for bearish break in major trend

Not financial advise. Do your own research. The ideas shared here are the personal opinions of the BitDoctor team. Trade at your risk.

It's quite obvious the perfect short area for Cardano was around 1300 to 1350 but now that we're sitting here at 1096 we're left wondering where we are going. We can see a clear trendline that we're sitting on. It's not looking too good, either. If we return to the 1070's we're breaking this trend and will almost certainly be heading for the median of our channel. Depending on how quickly we get there, that could mean a drop to about 1030 or 1000.

I tend to have the feeling we're still going to head back to 900, though.

This is all dependent on us breaking this trendline. I would not short here. We might actually pop up to about 1120 before we break, but once we break, there's a great chance we're heading down down down.

These are the facts, folks! Trade safely my friends!