ADAUSDT: Ranging within flag until Trump Inauguration
I predict the price to range within this flag until we hit the vertical line, January 20th. One would presume a big move on this day, as Trump will be inaugurated. It's possible we continue to range within the flag afterwards, but I think a big move will happen on or very near January 20th.
Cardano (like almost all crypto) is heavily pegged to the price of Bitcoin and almost always moves in the same direction. However, it looks like Cardano is attempting to de-couple from BTC with some success. The more this continues, the more likely we are to see large bullish moves in the price. If $1.20 breaks with high volume, expect a big move up to at least $1.50.
Not trading advice. I'm a noob, first idea.
Cardano (like almost all crypto) is heavily pegged to the price of Bitcoin and almost always moves in the same direction. However, it looks like Cardano is attempting to de-couple from BTC with some success. The more this continues, the more likely we are to see large bullish moves in the price. If $1.20 breaks with high volume, expect a big move up to at least $1.50.
Not trading advice. I'm a noob, first idea.
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We broke up and out of the flag once, then tested the 0.95-1.00 level hard last night, but it held and is currently reversing and the price rising quickly. It looks like we MAY be breaking back up and out of the flag for another bull run up. If we hit and break $1.10 with some volume (lik enow) then I expect to see $1.30, then $1.60-$1.70.Trade closed manually
It's been an exciting day in crypto-world today. Trump officially signed an executive order to create official and legislative framework for digital currencies, and to see if a digital asset stockpile is feasible. While many (including me) expected this to cause prices to rise rapidly, there seemed to be plenty of people wanting to exit positions which kept the price increase at bay. This caused the price of many cryptos to whip-saw up and down most of the day. The EO has a 6-month time frame so it will be months before something official is announced. When that happens, I expect a very rapid rise in all crypto. Until then, I think we're at the mercy of economic news (Fed meeting 1/28 and 1/29, then March) and other news that relates to interest rates.
We're still trading withing the flag but at the very bottom, and broke through once this morning. If we close below the trend line we may see a big sell-off. It's looking more likely that this trend line will break and bring us down to at least 0.92. There is a HUGE buy-wall of 20m ADA on Binance at this level. If that breaks we will definitely hit the 0.86 level, and possibly go lower to the 0.60 level. I'm still bullish but I have seized trading for the time being. I'd like to wait and see what happens in the coming day(s).
Note
We are now breaking to the down-side. There's a small chance we see a big rebound at 0.92 and break up, but that depends on the rest of the altcoin market. The large buy-wall that was once on Binance is no longer in play. Everything is currently getting slaughtered.Note
Note: FOMC meeting is coming this Tuesday/Wednesday. If the Fed comes back with good news (lower inflation data) then the entire market may bounce up quick and hard. If it's poor news (higher inflation data came in) then expect a big drop-off to 60 cents. I believe we'll hold the mid-0.80s until that news comes out.... Depending on how this drop continues.
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