My initial target of 44k has been met. This is clearly a low time frame downtrend. I’m expecting 2 thing in the coming days- A retest of 42.6k and a retest of the EMA 20 daily at 47/47.5k. I’m not very optimistic this month until bitcoin reclaims the EMA 20 on the daily.
on daily time frame it looks like forming evening star (bearish) it can come down to 161-160 as a mean reversion of 9 ema.
4h time frame it indicates higher high, higher lows
pitchfork and fib speed resistance fan shows confluence levels at 172-160
140 could be the last major support after this level it can go sideways or bearish
240 might be possible based on...
The weekly technical chart of Cardano highlights a positive trend built by the coin. A sudden spike in price movements can be seen from Jan 3. A bullish Pennant pattern is formed on Tuesday's trading session. ADA successfully broke out of that pattern for an up move with the resistance zones placed at R1 $0.1881, R2 $0.19716, R3 $0.2115 and the following support...