Wehn should I buy Cardano (ADA)?
Short Term Bitcoin(BTC) and Cardano(ADA) RSI Market Scope
Yo, today I'm having a look at what are the dips to buy according to RSI support and resistance lines. The support is in yellow boxes and the resistance is in red boxes. As you can see by looking back, these lines are VERY significant!
Bitcoin
Bitcoin prices are important to look at and compare to as any move on bitcoin is reflected on ANY altcoin.
4hr
bitcoin is currently within a 4hr pennant and just bounced off the bottom side support. this means that we are likely seeing a bigger move to the upside over time and will eventually reach the topside resistance. this suggests that the current rise has room to continue. As you can see, the best times to buy bitcoin are the bounces off the bottom side support.
1hr
the one-hour chart shows bitcoin trading within a rising channel after breaking out of a descending triangle. this is quite bullish and means that bitcoin will likely find support in this region
Cardano
4hr
Cardano has hit the top side resistance of this pennant on the RSI, we expect a pullback, however, there are many times where Cardano has continued moving upwards only to top out once the rsi is above the resistance line. we can expect a short-term lull in Cardano price due to this, however, it can very well continue upwards. As you can see the best times to buy Cardano are the bottom side support, we can look for these in the future.
1hr
Cardano is trading within the rising channel, as you can see bitcoin is also approaching the bottom side of the rising channel as well. If one trusts the channel hold, then they can buy and expect the price the hold sideways, then rise up alongside bitcoin price action once bitcoin also bounces off its RSI support line.
Thanks for reading, have a wonderful day
Yo, today I'm having a look at what are the dips to buy according to RSI support and resistance lines. The support is in yellow boxes and the resistance is in red boxes. As you can see by looking back, these lines are VERY significant!
Bitcoin
Bitcoin prices are important to look at and compare to as any move on bitcoin is reflected on ANY altcoin.
4hr
bitcoin is currently within a 4hr pennant and just bounced off the bottom side support. this means that we are likely seeing a bigger move to the upside over time and will eventually reach the topside resistance. this suggests that the current rise has room to continue. As you can see, the best times to buy bitcoin are the bounces off the bottom side support.
1hr
the one-hour chart shows bitcoin trading within a rising channel after breaking out of a descending triangle. this is quite bullish and means that bitcoin will likely find support in this region
Cardano
4hr
Cardano has hit the top side resistance of this pennant on the RSI, we expect a pullback, however, there are many times where Cardano has continued moving upwards only to top out once the rsi is above the resistance line. we can expect a short-term lull in Cardano price due to this, however, it can very well continue upwards. As you can see the best times to buy Cardano are the bottom side support, we can look for these in the future.
1hr
Cardano is trading within the rising channel, as you can see bitcoin is also approaching the bottom side of the rising channel as well. If one trusts the channel hold, then they can buy and expect the price the hold sideways, then rise up alongside bitcoin price action once bitcoin also bounces off its RSI support line.
Thanks for reading, have a wonderful day
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.