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 les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.