Short

ADA short idea

Updated

Looks like a good short to me.
Any significant buying at FTA would make me take profits early.
Otherwise aiming for the cycle lows.
Invalidation by closing above the "stop" would turn this chart bullish & present a good long opportunity.
Wouldn't want to see weekly closes into the range, that would invalidate the idea early too.

Note

There she goes.
Let's see if the FTA gives any trouble otherwise all the way back down to the full retrace.

Note

FTA isn't really doing anything - no sharp bounce.
I think ADA is most likely going to short term bounce here.
Big timeframe the most likely course of action is capitulating into the target in my mind, however.
Stop loss should be trailed here to lock in gains.
New invalidation -> 1000 sats+

Note

I still think it could easily go to target but I'm calling the idea finished here.
A 35% move after a lengthy bear market and then expecting another 40%+ move on top of it seems like pushing it.

Closing this thread here.

cryptodonalt

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