Clear Channel Down on 4H

25 May 2018

Cardano (ADAUSD) is on a standard 4H Channel Down pattern (RSI 37.879, MACD = -0.010. B/BP = -0.0194) that is now consolidating (Highs/Lows = 0, STOCH = 48.465) the absence of a Lower High. The next Lower Low and our TP is 0.121695, with an extreme extension (based on the previous bearish Fibonacci sequence) at 0.107614. Medium term buyers are advised to start placing long orders strategically between 0.12 and 0.14. Note: there is an extreme scenario for a Higher High on the cross of the 0.256983 Resistance with the Resisting trendline drawn from the 0.389197 Top.