ADABTC trade ideas
ADA - Might be an opportunity to short hereI know a lot of people are bullish on ADA, but this TA looks bearish to me. We broke out of this ascending megaphone to the downside and have a big bear flag. The 4-hour MACD also looks bearish. I'm going to be the contrarian here and short especially with Bitcoin teetering on collapse.
ADA/BTC breaking out and rebounding off a double bottomI AM A NOOB WHEN IT COMES TO THIS AND THIS IS THE FIRST TIME I AM TRYING SOME TECHNICAL ANALYSIS. THIS IS MAINLY FOR ME TO GET FEEDBACK FROM YOU AND TO TEST MY THEORY OUT. TWO INDICATORS ARE SHOWING THAT WE ARE LOOKING AT A POTENTIAL BREAKOUT VERY SOON. PREDICTION
ADA/BTC Breakout and retestingBINANCE:ADABTC has broken out of its downward resistance and is now on its way to retest the resistance which we should expect to now flip into support
We remain bullish of Cardano in the short to medium term due to the Goguen mainnet roll out.
Enter a long if the support holds and the momentum turns
There are still major millstones for ADA to reach against BTC
Cardano/BitcoinCardano with multiple projects in the works. Implementation of its smart contract Goguen, Cardano would most likely return to its all time high (ADA/BTC) which 2018 was 0.00008779 BTC. With bitcoin currently at $47,000. Cardano should be around $4.13 given it reaches its satoshi value from 2018. If bitcoin continues to rally we can expect to see Cardano at $8-$10.
ADA/BTC Bullish Head and Shoulder breakoutADA/BTC show a bullish head and shoulders breakout.
The first upper target is set by the orange line.
Cardano soon will be updated and become a plattform as ethereum.
Within the next two months Cardano will be fully decentralised.
All this shows the bullisheness of Cardano, ready to takeoff.