The range formation for Cardano was finally broken on Wednesday, despite the weakness of Bitcoin.
The former bearish H4 OB at $0.375 was flipped to a bullish breaker. Moreover, the range breakout saw an FVG (white) develop at the $0.375 area as well, marking it as a good demand zone.
Yet, if Bitcoin was unable to climb toward and past $27.8k in the coming days, the bullish sentiment behind Cardano could begin to fade away.
Entry: $0.372 (retest of range highs)
Take-profit: $0.383 (small imbalance and short-term resistance)
Stop-loss: $0.368 (below FVG)
The former bearish H4 OB at $0.375 was flipped to a bullish breaker. Moreover, the range breakout saw an FVG (white) develop at the $0.375 area as well, marking it as a good demand zone.
Yet, if Bitcoin was unable to climb toward and past $27.8k in the coming days, the bullish sentiment behind Cardano could begin to fade away.
Entry: $0.372 (retest of range highs)
Take-profit: $0.383 (small imbalance and short-term resistance)
Stop-loss: $0.368 (below FVG)
Note
demand zone didn't hold, the upward breakout hunted liquidity and reversed back into the range after BTC losses
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Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.