WIth regards to the TA of , its clear that this coin is steadily trending upwards.
The first thing I want to address is the . Obviously we saw a massive 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 + increasing = VERY ). 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 markets as an attempt to outpace the market ( BTC is the 'index') of the market. In the markets, you trade against USD so you can stay safe and stack cash to buy low. So, we are trading here in an attempt to outperform the BTC market. Remember: 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 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.
DeFi Slate Team
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