Cardano (ADA) Looking for a good short entry, long also possible
Updated
Cardano has formed a head and shoulders pattern followed by rejection of the trendline and red cloud. If I were looking at the chart alone, I would be shorting, but RSI tells us the rising support at the base, so a long is equally possible. Stoch has room to run too, so at the very least we could be holding the current price.
If this break the white base I believe you should short. I recently got into Bitmex and now I am able to make money in this market way more easily.
Short target at:
1800 satoshi's.
If the long scenario happens, the 1860 level must be broken convincingly for me to go long.
Long target at:
1930 satoshi's
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If this break the white base I believe you should short. I recently got into Bitmex and now I am able to make money in this market way more easily.
Short target at:
1800 satoshi's.
If the long scenario happens, the 1860 level must be broken convincingly for me to go long.
Long target at:
1930 satoshi's
Thanks for viewing! I post all my private charts such as BTC/USD here on tradingview. They can be found in the related ideas. Message me if you would like access to my more recent ones and I will share all the charts with you.
Note
Looks like we will hold here for awhile.Note
Longer we hold more possibility for a bullish break of the cloudTrade closed: target reached
1.05%.Not staying in due to btc drop.
Trade active
Short position readyTrade active
White trendline is target 1.Note
This is first weak support, bounce expected
Note
Bounce happened as predicted, continueing downTrade closed: target reached
I closed my short, moving onto BTC now, you may choose to stay in if you believe it will continue to drop. Shorting ADA is getting more risky now.
Trade closed manually
If you still are shorting ADA, close now and wait for move first.Note
Note
On Aug 11 when I closed my short price has 1.67% move. Got lucky.Note
I believe another 1% upside move is coming. New chart has been posted.
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