defislate
Long

ADABTC. The Chart Of All Charts. 5X Inbound?

BINANCE:ADABTC   Cardano / Bitcoin
Cardano is one of the higher market cap coins coming in at #6 right now, which means its certainly one of the first coins mainstream and non-crypto diehards will be looking at because its "cheap" relative to Bitcoin , Ethereum etc etc and well, because it will be pumping as it has and there's nothing as the FOMO that comes with a pumping asset. Especially in crypto.

WIth regards to the TA of ADA , its clear that this coin is steadily trending upwards.

The first thing I want to address is the volume . Obviously we saw a massive volume increase starting back in middle of May that lead to an increase in price. Analysts often say "price follows volume" and in this case that was the exact situation. However, the alternative way to view it is (price increasing + volume increasing = VERY bullish ). And this is why I believe we are going to explode after coming off a multi-year bear market for Cardano and the rest of the altcoin market.

We have labeled 4 'TP' zones (Take profit) as we have sell orders here on Bittrex. We will be leaving a moon bag incase we break new highs against BTC and push into price discovery , however our motto is:

You trade against BTC in bullish markets as an attempt to outpace the market ( BTC is the 'index') of the market. In the bearish markets, you trade against USD so you can stay safe and stack cash to buy low. So, we are trading ADA here in an attempt to outperform the BTC market. Remember: ADA is a sh!tcoin and BTC (& ETH) are the crypto money protocols that have serious value. We want to end up primarily in them, so we will flip ADA into BTC when our TPs are hit.

Then, we'll let the market dump again.

And re-enter around the lows.

Market cycles are a thing of beauty.

If you're not already in a position, we think its best to look on the 4H chart and wait for a 3-6% dip to enter. FOMO is for losers. If you're reading this - you're already winning.

Cheers!
DeFi Slate Team

📈Telegram Group: https://t.me/joinchat/HCletBt270QUPY_keG...
🌐Twitter: https://www.twitter.com/defislate
📚Raw, unique DeFi takes: defislate.substack.com
🎥Podcast: https://defislate.substack.com/p/defi-by...

Sign up for TradingView & earn $30 free TV Credits when you use this link:
https://www.tradingview.com/gopro/?share...

Comments

it would be funny to see Ethereum run on Cardano one day.
+1 Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out