So, Cardano rose 6,5% against Bitcoin yesterday and we did get a breakout from the descending trendline. Here is the daily chart:
Comment: The volume did also pick up. It was the highest volume in 5 days so there are a lot of positive factors overall for Cardano.
Today we have also visited and been above the bollinger band median but we have not had a daily close above it and that is why I dont consider this a trade, but an investment setup.
What do I mean with an investment idea? Basically, this is a good time to scoop up some Cardano if you believe in it for the long term. You should always buy the dips in order to buy on the cheap.
Happy investing!