Xzhi
Long

Bullish Cardano (ADA) Trading Idea (Increase position 10-15%)

BINANCE:ADABTC   Cardano / Bitcoin
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.
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.
can you update the Sell point for the ones who want to buy back?
+1 Reply
KyleBessoni engrvick
@engrvick, He said buy back in once it corrects 10% 15% after correction from 3500 sat.
+3 Reply
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