✴️ Cardano Bullish Hammer, Bullish Divergence & More

23 בדצמ׳ 2022

We have a two hammers here...
The "normal" hammer and the inverted hammer.

21-Dec. we have the inverted hammer.
This is the candle with the long upper wick/shadow and a small body at the bottom.

22-Dec. we have the classic/normal hammer.
That's the long lower wick/shadow followed by a small body.

The wick/shadow must be at least twice as big as the real body of the candle for the hammer signal to be valid.
Also, the hammer must come at the bottom of a trend, new low or support to be valid as a reversal signal.

All these requirements are met here on the ADAUSDT - Cardano vs Tether - chart.

We also have a multiple months long bullish divergence with the RSI:


These are good/strong signals but they can be invalidated.

We also have a falling wedge pattern...

We have good potential for seeing this thing turn.

The bullish wave timeframe, we gave this one out on the Ethereum Classic article, can happen between January and March 2023.

Thank you for reading and remember to boost! 🚀🤗😄👍

Namaste.