$ADA #CARDANO THIS IS WHY I LOVE TRADING CARDANO!!!!
Hello Lads and Ladies,
Today we are looking back into ADABTC one of my favourite coins to trade since almost 2 months now. It keeps the resistance and support lines very straight and respects them a lot. The price movement is also easy to predict if you are looking into this coin for a little while now. Previously we see ADABTC having a lot of price movement in the 3000 to 2850 channel. It left it once, went down to 2600, was wanting to go up, but somebody was selling 70btc worth of Cardamon at 2630, so we had a side movement for 2-3 days, from where it broke down again to 2400 immediately indicating that it is strongly oversold, especially when tracking the price hourly. From there it went up to 3000 as it was before having little stops at 2850. Then it made once again a movement from 3000 to 2850 to 3050 from where it came down to 2850 once again, as we see the chart right now.
Since we are sitting at 2850 right now ADABTC needs to decide what to do. Either it tests the 2600 again or repeats its 3000 cycle. However, with the before standing news it should make a bigger scale move soon.
The golden question is: Does ADABTC go down before it pumps again OR will it hover in its previous channel and then make a bigger move?
I personally tend to believe that it will test the 2600 shortly again before the pump, just to pick up a better momentum. Although I would disagree with seeing it testing 2400 again. Here I would divide the probabilities in 85% and 15%. Everything around near 2600 is a good price to buy in, everything significantly below this line is a godly strong buy signal.
In case of the pump we would have a strong resistance line at around 3100. Should we surpass this line, the next big stop will be at 3500 which also happens to be an overlaying double 61.8% fibs line.I very strongly believe that after reaching this one we will have a retracement back to the previous resistance line at 3100 which would act as a support line now. Anyhow, from there on the doors would be open for the strongly appealing and pulling target of 4185. I will locate a bigger chunk of sell orders all between 4050 and 4150 looking very closely when reaching these lines.
Do not forget that there is always the small chance of around 0.5% that it will just RAGE QUIT, go completely opposite and retrace to the 1660 low of mid march!!!
Either you #hodl or swing trade it - your decision what you are more comfortable with but both is very easy here : )
Like and Follow me and you will find this page interesting because I am a TA expert and day trader that does daily updates and new posts about the hottest and most discussed coins.
Cheers, Tomas
Today we are looking back into ADABTC one of my favourite coins to trade since almost 2 months now. It keeps the resistance and support lines very straight and respects them a lot. The price movement is also easy to predict if you are looking into this coin for a little while now. Previously we see ADABTC having a lot of price movement in the 3000 to 2850 channel. It left it once, went down to 2600, was wanting to go up, but somebody was selling 70btc worth of Cardamon at 2630, so we had a side movement for 2-3 days, from where it broke down again to 2400 immediately indicating that it is strongly oversold, especially when tracking the price hourly. From there it went up to 3000 as it was before having little stops at 2850. Then it made once again a movement from 3000 to 2850 to 3050 from where it came down to 2850 once again, as we see the chart right now.
Since we are sitting at 2850 right now ADABTC needs to decide what to do. Either it tests the 2600 again or repeats its 3000 cycle. However, with the before standing news it should make a bigger scale move soon.
The golden question is: Does ADABTC go down before it pumps again OR will it hover in its previous channel and then make a bigger move?
I personally tend to believe that it will test the 2600 shortly again before the pump, just to pick up a better momentum. Although I would disagree with seeing it testing 2400 again. Here I would divide the probabilities in 85% and 15%. Everything around near 2600 is a good price to buy in, everything significantly below this line is a godly strong buy signal.
In case of the pump we would have a strong resistance line at around 3100. Should we surpass this line, the next big stop will be at 3500 which also happens to be an overlaying double 61.8% fibs line.I very strongly believe that after reaching this one we will have a retracement back to the previous resistance line at 3100 which would act as a support line now. Anyhow, from there on the doors would be open for the strongly appealing and pulling target of 4185. I will locate a bigger chunk of sell orders all between 4050 and 4150 looking very closely when reaching these lines.
Do not forget that there is always the small chance of around 0.5% that it will just RAGE QUIT, go completely opposite and retrace to the 1660 low of mid march!!!
Either you #hodl or swing trade it - your decision what you are more comfortable with but both is very easy here : )
Like and Follow me and you will find this page interesting because I am a TA expert and day trader that does daily updates and new posts about the hottest and most discussed coins.
Cheers, Tomas
Get access to the MyAlgo Indicator:
mkast.io/pricing
Join our Discord under
discord.gg/9gNwXHd
Follow me on Twitter under
twitter.com/KongBTC
mkast.io/pricing
Join our Discord under
discord.gg/9gNwXHd
Follow me on Twitter under
twitter.com/KongBTC
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.