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Arelowo
Dec 3, 2017 2:28 PM

ADA Short Term Bearish Long Term Bullish 

Cardano / BitcoinBittrex

Description

I've been looking at ADABTC since it started trading on Bittrex. It has gone from 0.00000400 to 0.00001601 in about a month. It is currently at around 0.00001153. The support level is at 0.00001001. If it drops below 0.00001001 it could go down to as low as 0.00000800 on heavy selling. There are two HUGE buy orders at 0.00001100 for 1549838.86004262 and another at 0.00001121 for 1167227.95415460 which supply over 30 BTC of support. In the short term ADABTC seems to flux about 5% a day. Buying on the lower end could give you a quick profit.

Comment

The purple lines where were daily support lines that just broke today so I'm keeping an eye on them.
Comments
adamicius
Good to keep an eye on them. But let's also consider the possibility of fake breaches meant to scare weak hands...

Same thing happened with the trendline I drew - was breached to the downside, for a few minutes

That said... a bigger sell-off is still an option.
Arelowo
@adamicius, Yea I think there will be a couple of shake outs. If you have a bot on this market you can make money on the volitility
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