Cardano (ADA) - Consolidation Bull Prep

Cardano ADABTC going through a consolidation after large bull run. A few hints for possible breakout in the near future. Currently awaiting further confirmation. No entree.

POSITION:
none

SIGNALS:
- falling wedge development
- T&K bull cross (weak evidence)
- Price-T&K bull cross (weak evidence)
- multiple resistance testing

CAUTIONS:
- weakening trend strengths increases likelihood of interpretation error of key signals & inconsistencies
- future cloud thickness decline denotes indecision but confirms falling wedge formation

Comment:

 

Comment:

POSITIONS
none (buy signals pending)

BUY SIGNALS
- Price-Cloud entry & breakout
- Price-T&K bull cross

CAUTIONS/CONFIRMATIONS
- T&K bull cross (awaiting for final buy signal)
- Price-T&K bull cross stability
- Price-Cloud entry & breakout was through narrow cloud

INTERPRETATIONS
Bearish wedge resulted in decrease in further price. Possible price stabilization. Awaiting possible breakout bull run. Price-Cloud bull cross has been first successful event following the last bull run. Next 24 hours will be met w/initial selling pressure followed by increased buying pressure. If price manages to remain above w/T&K bull cross w/other variables constant, it will signal my time to buy.

Trade active:

POSITIONS
bought @ 5400

BUY SIGNALS
- T&K bull cross
- Price-T&K bull cross
- Price-Cloud entry & breakout

CAUTIONS/CONFIRMATIONS
- confirm stability of bull buy signals

Trade active:

POSITIONS
Entry @ 5400 (Target @ 7200)

INTERPRETATIONS
Target lowered to account for retrace for maximum profit yield. Additional position & new target TBD.

 

Trade closed manually:

POSITIONS
Entry 100% @ 5400
Closed 100% @ 6400
Net @ +19%

INTERPRETATIONS
Unlikely to hit target before retracement. Profit taken to free up funds despite potential of slight profit loss. Price will likely have a slight spike before dropping back to ~6500 level. Next entry & new target price after fall.

BUY SIGNALS
- Initial spike followed by retracement 6000-6500 (expected bullish run following)

 

Trade active:

POSITION
Entry 100% @ 6350

INTERPRETATION
Lowest price before bull run of expected >30%. Extrapolated graph will be posted as more data is gathered.

Trade closed manually:

INTERPRETATION
Bearish sentiment unlikely to result in expected bear run. All short positions closed.

FINAL
Entry @ 6350
Closed @ 6900
Net @ +9%