Cardano (ADAM19) Can Bounce Here, Support & Resistance Levels

Looking at Cardano (ADAM19) on BitMEX, I am seeing a potential bounce that can happen here.

ADAM19's retrace has been speeding up until it finally found support and a bounce happened around the 0.786 Fib. retracement level from the last bullish wave.

This is a strong support zone and a bounce can happen here even if Cardano is to continue with its retrace after it.

We also have:

• The RSI is coming out of oversold.
  
• The MACD is showing a bullish crossover.
  
• Trading above EMA10.
  

Hit like if you want to see more about Cardano and other BitMEX futures contracts charts.

Thanks a lot for reading.

This is Alan Masters.

Namaste.

Commentaire:

Here is our full trade.
First target reached for 29% ROE.
More to come...

Trade: LONG ADAM19

Leverage: 10X

Buy-in: 0.00001424 - 0.00001455

Time Frame: 4H

Targets:

(1) 0.00001491 -Reached
(2) 0.00001540

Stop Loss: Close 4H below 0.00001400

Liq. price: 0.00001340
(Buy-in calculated at 0.00001448)

Profit Potential: 63.53% ROE

Capital Allocation: <4%.

Commentaire:

Here we hit our first target, we secure profits and our trade after hitting any target.

You can secure profits by selling at least 50% on the first target (BitMEX trades) and secure the trade by raising stop-loss above buy-in after hitting our target.