Bullish Cardano (ADA) Trading Idea (Increase position 10-15%)
Signals:
Significant buying pressure allowing ADA to break past 2400 resistance, now proven to be a support level
RSI showing continuous strength for past 3 weeks (This is actually a bullish sign, not an indicator for an overbought coin)
Bitcoin losing dominance every week, sign that altcoin season is here.
How to trade:
If it can hold the 3000 level, buy in around there.
Sell points
Around 3500 satoshis, the first significant resistance point
Buy back in after expected correction of around 10-15%, increasing your position in ADA by 15%. This step is if you are bullish in the long term.
Significant buying pressure allowing ADA to break past 2400 resistance, now proven to be a support level
RSI showing continuous strength for past 3 weeks (This is actually a bullish sign, not an indicator for an overbought coin)
Bitcoin losing dominance every week, sign that altcoin season is here.
How to trade:
If it can hold the 3000 level, buy in around there.
Sell points
Around 3500 satoshis, the first significant resistance point
Buy back in after expected correction of around 10-15%, increasing your position in ADA by 15%. This step is if you are bullish in the long term.
Comment:
The entire market is very strong right now so I wouldn't wait for the correction of around 10%. You will have to decide for yourself the re-entry point. Personally I think we have found support at 3300 sats and it would not be bad to buy back in around that range.
Trade closed: target reached:
Updated my ADA chart. Tells you if 3000 sat can hold & next buying levels.
