Cardanobtc
Ada LongCardano has been making higher lows from the past few days.
Open long around the range 560-570 as it is forming channel down the pattern and soon expected for break out.
On the other hand, RSI is showing positive divergence.
Hope this plays out soon
Stoploss below 540 Sats
Note- For Educational purpose only not investment advice.
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ADAUSD wave idea reformed thanks to a follower.So my analysis on the simple layout was a bit off with wave structure. After a follow pointed it out I decided to post it for everyone. Essentially with the double zigzag idea impulse double correction impulse..is pretty much the idea of elliot structure with wave 3 being the largest followed by a bullish XABCD butterfly if you observe it as harmonics.
With new investors entering, prices are getting a discount. I too have taken advantage of the fall. I ladder my positions every 5 to 10 cents or so since I am in the long term game.
Would love everyones thoughts about Cardano and their projects. Please like and share your thoughts below!
A more in-depth view of ADAOkay i know I've been harsh on ADA the last few days.
Let's look at the positives:
- Falling Wedge pattern (bullish)
- Bullish Divergence
- MACD close to flipping green
- Sell volume decreasing
- Approaching big historical supports
- Slow bleed from 9000 sat ATH to 600 sats
580 sat zone is ideal entry to go long. Can scale in from now though if you'd like.
ADAUSD Possible Head and Shoulders PatternCardano (ADAUSD) seems to be forming a nice Head and Shoulders pattern, if the neckline decisively breeches to the upside then the minimum target would be around 0.20 USD. The price is currently being supported by the 21 weekly EMA, if a weekly candle closes below the 21 EMA then we should expect more downside action for the ADAUSD pair.
This is not financial advise, it's just for me to keep track of my own trading.
Happy Trading.
Altcoins are slowly getting ready for rally. ADA/BTCAfter Bitcoins rally to over $12,000 and BTC Dominance sitting around 62% lot of people experiencing fear of missing out this pump.
What is probably smarter is to wait for a pullback of some sort or period of consolidation, this will give room for altcoins to push higher as well.
We can see a reoccurring pattern in xxx/BTC pairs where most of them sitting below HTF supports, once these supports are broken and tested we can find great buying opportunities.
Making a higher high after breaking support level will increase the probability of this price action pattern.
ADA Macro Thoughts$ADA Thoughts:
Wicked into the 18' yearly low, and found support back above it.
I would remain cautious here if you're bullish on $BTC. We could very well see a double-bottom form around the 830 level. If that breaks to the downside, we woud likely sweep the 17' low.
If you're looking to long, I'd wait on a sweep of the 17' low, or a daily close above the yellow POC level.
ADA/BTC long !Cardano (ADA/BTC) looks really juicy, retesting the strong longterm Support, perfekt to buy the Dip!
This is a high risk trade, so the Position Size shouldn´t be more than 10% of the Portfolio
in order to minimize the risk to 2%. Always keep in mind a strong BTC Pump could kill this setup fast
(Always use Stops in Altcointrading!!)
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You can see if that)