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Cardanobitcoin

Cardano offers limited downside- Short tf (4hr) analysisMy original post for a possible sell off in Cardano can be found here I have updated that particular post as it was based on Elliott wave analysis. I decided to look at the trendline in Cardano in this post and also look at where support is to investigate what current price action offers in terms of risk to reward. The current sell off in Cardano which started on Jan 4 2018 has a limited downside and this is exemplified by a break above its downward trendline shown in red. Two possible scenarios for a bullish trade are given below: (1) A breakout above the high made on Feb. 25 2018 of ~0.00003520 and then using the price low of ~0.00003054 as stop loss (SL). Using Target 1 as the range to take profit produces a great risk/reward ratio of ~4:1 if the bottom range of Target area 1 is used to take profit and a risk/reward ratio of ~6:1 if the bottom range of Target area 2 is used to take profit. In this scenario, the IDEAL point of entry (POE 2) into the trade is taken as 0.00003421 Range for Target area 1 = 0.00005507 and 0.00005940 Range for Target area 2 = 0.00006521 and 0.00006929 (2) If price continues downwards to the support and holds at the support range, then a long position can be placed on a breakout above support after price must have successfully tested the support area. The IDEAL point of entry (POE 1) into the trade is taken as 0.00002651. In this case, the stop loss will be placed just below the bottom range of the Support area at ~0.00002179. Using this IDEAL scenario will produce a risk/reward ratio of ~6:1 if the bottom range of Target area 1 is used as the point to take profit. Using the IDEAL scenario and targeting the bottom of Target area 2 offers even a greater risk/reward ratio of ~8.2:1
by Coin_Analyst
4
Short term analysis [4hr tf] analysis for Cardano- SELL OFF!Cardano made a high of 0.00009180 BTC on Jan 4 2018 and has been selling off since then. Wave W of an Elliot wave cycle is believed to have finished and is labelled wave w(in red).So far, the sell off in Cardano is shaping up as a WXY Elliot Wave structure, and we are in Wave Y of the WXY structure. Also shown on this chart is the long term trendline of Cardano which is also present on the Daily tf. Closing below this trendline is another reason to believe that the sell off will continue in Cardano. The blue lines marked on the chart show the area that support naturally exists for Cardano i.e. between 0.00002621 and 0.00002178. Wave Y also = 100% Wave W at ~ 0.00002768. This is indicated by the orange line on the chart. The 100% projection of Wave Y based on wave W is an acceptable projection for a WXY structure. Therefore this increases the chance that the sell off in Cardano will target this support area.
Short
by Coin_Analyst
Carda-YES!: Cardano finally finds the floor?: A Tech AnalysisHello fellow traders! Cardano has been steady dropping since it's peak at the beginning of the year. Is this the floor we have been waiting for? Quite possibly friends. Let's look a couple of things on the 1 day chart that make me bullish on BINANCE:ADABTC . First, notice the light blue channel. Back at the beginning of the rally Cardano had last year, this was an important support level for the run up from 2600 to 9000 satsoshis. The top of the channel held since first contact was made on Feb 20th. If it breaks downward any further, the next support is the bottom of the channel at around 1300 satsoshis. Next, notice the T.D. Sequential indicator has completed a T.D. Buy Countdown, signalling the lowest risk opportunity to open a position. If we pair this with the oversold RSI level, one could view it as a trend reversal. Lowest risk opportunity for a buy and an oversold RSI!! We may be in for a wild ride! I'm a rhyming fool over Miss Lovelace! As always, have great days or nights, where ever you are. Trade Safe. Trade Smart.
by WildmanCryptoConsulting
5
ADA going UPLooking at ADA it looks like it may have finally reached the bottom of the support line again to form a double bottom. It quickly jumped up as soon as it hit this target. I believe we will see ADA continue to rise up from here and test the .00004750 range. We may have found a narrow trading range and bounce around between the support and resistance for a while. If it were to break the support level it could drop to around the .00003000 mark, however on the other hand if we see a break above the current resistance level we could see it rise to around .00005730.
Long
by dustyPH
ADA - what a stupid bloody name, baby name. Baby growing up 200%ADA, well well well. huge coin that had massive hype towards the start of the year. The general concensus is that this coin is great, has amazing developers and a very very very well thought out and jam packed roadmap. Lots of positive vibes around the coin, but also do take in mind that they don't really have a lot to offer right now other than a mainnet and wallet. They are trying to compete with ethereum as a platform for smart contracts and dApps, in a market that is already filled with competition, there's no guarantees that this coin will succeed, however the roadmap on cardano looks very promising. Short term - neutral to bearish. Bitcoin looks like its not finished with correcting yet, cryptocurrencies have largely fallen off the normie radar and are taking a break (quick search on google trend trends.google.com) shows that normie interesting is starting to cool off, in preparation for the next bullrun. long term - bullish Buy zone: 2 zones - 0.618 fib retracement: 0.00003690 - 0.00004190 - 0.718 fib retracement: 0.00002286 - 0.00002748 Sell zone: Only 2 in mind. I like mid term targets and dont worry about short term goals. 1) 0.00012000 - 0.00012500 2) 0.00017000 - 0.00017500 Me? I'm going to hold onto this for many years to come :) Fundamentals: ADA just has regular roadmap updates, They don't really offer timeframes as to when they complete stages in their development, but the closest one thus far looks to be the Ouroboros Staking protocol, which would allow ada holders to stake their coins. This would be massive progress for the coin in general and would serve to be a reasonable catalyst to catapult this coin up to the 1st target for 200% profits. Technicals: ADA has just completed its 1st 5 waves up of a supercycle up and is in a corrective phase right now. Currently riding between the 0.618 to 0.5 retracement levels right now. ADA looks to be forming a 5-3-5 zig zag corrective pattern and in the C wave thereis almost alway 5 subwaves within that. Something i notice about cryptocurrencies is that they do like their extended 5th waves which leads to me to believe that ADA may not be finished correcting yet and may see the 0.718 retracement region which is why I've provided 2 buy zones. RSI on the daily is approaching the bearish zone of 30 and MACD looks to be curling up ever so slightly. This shows the that ADA is close to finishing its correction but that's definitely not to say that its out of the woods, because it most definitely isn't, there is still room to correct, but the room to correct is running out of space as we speak. Using a conservative Fib Extension we target a little more than a 1-1 extension for the 1st target, because Elliot wave theory states that the 3rd wave is often the longest but never the shortest and 2nd target is derived from the final elliot wave targeting just a little above the 1.618 region on fib extension. I'm still learning TA, any advice on improving my analysis would be GREATLY appreciated. I welcome any criticisms and feedback. So go ahead and grill me :)
Short
by EnZo
3
CARDANO, Great Buy Opportunity for #ADABTC, just catch it now!!Technical analysis: CARDANO is in Range bound but Resumption of uptrend is expected. In Daily chart , A hammer candlestick pattern is formed which is the first sign of the beginning a Bullish Trend . The price touched the strong downtrend line in Daily Chart . It is below the 21-Day WEMA which acts as a dynamic resistance. The RSI is at 44 and above a RSI support level . Trading suggestion: Price is in the support zone (0.0000477 to 0.0000385), traders can set orders based on Price Action and expect to reach short-term targets. .Beginning of entry zone (0.0000477) .Ending of entry zone (0.0000385) Entry signal: Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Hammer" or "Trough" , in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about "Entry signal" and special version of our "Price Action" strategy FOLLOW our lessons: (We have started to prepare these lessons in TradingView. If you want us to continue, give us feedbacks!) Take profits: TP1= @ 0.0000594 (First Target) TP2= @ 0.0000689 (second Target) TP3= @ 0.0000918 (Third Target) TP4= Free (Fourth Target)
Long
by ForecastCity
3
LONG Cardano, long-term Buy opportunity for ADABTC. Hunt it!Trading suggestion: There is possibility of temporary retracement to suggested support zone (0.00004887 to 0.00003881), if so, traders can set orders based on Daily-Trading-Opportunities (Price Action) and expect to reach short-term targets. Take Profit: TP1= @ 0.0000635 TP2= @ 0.0000915 TP3= @ Free Technical analysis: .Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. . Relative strength index ( RSI ) is 53. .Current short-term is range bound, but beginning of uptrend is expected.
Long
by ForecastCity