My opinion is that we are currently in a continuation pattern, more specifically, a falling wedge. Cardano's continued correction, offers great value. I would like to see an intraday move, to at least 50%, hovering between my Stop and my Entry point. The likelihood of a reversal into a profitable scenario is small for today, but with supposed positive...
I'm fearful of what seems like a head and shoulders formation currently forming on the 30 min chart. I entered, what I deemed a good position at the time, see the purple line. I can only put this down to being a n00b! I expected a correction from the earlier 0.00004500, but could not even fathom at correction to the mid/low 3600's... 80% of my position closed...
Yesterday I predicted a buy range, for Cardano, ranging from 3595 to 3620. This was based on a predicted correction from 3700... Needless to say, my positions were filled and liquidated simultaneously, all within one foul swoop. The lesson here is to either have enough bank, to ride out a severe storm, or place well thought through stop market strategies!...
Whilst piggybacking on the BTCUSD value, ADA, like most alts, had a great rally. I am of the opinion that we are poised for a quick correction, within the next 24 hrs. Expect minor resistance at 3650, moderate resistance at 3620 and firm bottom at 3590. I have hedged my new longs within the area, marked with the blue wave. Lets hear your thoughts. Please...