Cardano ADA/BTC - Patience Required

Updated

ADA/BTC Weekly Chart #ADA

A chart worth keeping an eye on #CardanoADA

- RSI Oversold for 2nd time ever
- Break out of bearish channel (Pending)
- Break above 50 SMA with turn up (Pending)
- Zones are rough guides.
- 115 weeks is a time guide as this was the last timeframe from
top to the bottom before bull market started. We are only at week 83.

You could nibble here. ill be waiting & watching for the break of the channel and the 50 SMA.

PUKA

Note

This ADA/BTC Chart is to help manage risk and a DCA strategy for the XRP Army

You can see we dipped into the long term buy zone. If you were quick enough maybe you bought the wick.

A break above the 50 week SMA is required for confirmation of continued upward trajectory.

We are still under the 50week SMA and could revisit the buy zone. Long term DCA in the green zone should help probability in your favor for a long term trade.

Note

We are deep in the buy zone now and 857 sats has been bought up twice.

Keep in mind if your buying here its with a long term mindset.

It is possible for price to exit the the below resistance line... anything can happen. Important to set stops.

Hopefully market structure holds and we consolidate in this shaded area before re-surfacing into a bull market

Note

We are back in the Buy zone

If you enter dont forget a stop at your own risk level under the purple bottom line

Note

Hi Guys,

We remain in the green buying zone. Press play on the chart to see this.

A stop can be placed under the pink underside line around the 0.00000808 - 850 level. IF we lose the lower diagonal support i will exit the trade.

For now this green zone is a decent entry. We are at the bottom of a price cluster and the downside risk is minimal with a stop between 0.00000808 and 0.00000850 depending on your risk tolerance.

That's the trade. That's what the risk has been reduced to thanks to the deflating price of recent.

PukaCharts

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