alanmasters

Cardano (ADAM19) Can Bounce Here, Support & Resistance Levels

BITMEX:ADAM19   None
Looking at Cardano (ADAM19) on BitMEX, I am seeing a potential bounce that can happen here.

ADAM19's retrace has been speeding up until it finally found support and a bounce happened around the 0.786 Fib. retracement level from the last bullish wave.

This is a strong support zone and a bounce can happen here even if Cardano is to continue with its retrace after it.

We also have:
  • The RSI is coming out of oversold.
  • The MACD is showing a bullish crossover.
  • Trading above EMA10.

Hit like if you want to see more about Cardano and other BitMEX futures contracts charts.

Thanks a lot for reading.

This is Alan Masters.

Namaste.
Comment: Here is our full trade.
First target reached for 29% ROE.
More to come...

Trade: LONG ADAM19

Leverage: 10X

Buy-in: 0.00001424 - 0.00001455

Time Frame: 4H

Targets:

(1) 0.00001491 -Reached
(2) 0.00001540

Stop Loss: Close 4H below 0.00001400

Liq. price: 0.00001340
(Buy-in calculated at 0.00001448)

Profit Potential: 63.53% ROE

Capital Allocation: <4%.
Comment: Here we hit our first target, we secure profits and our trade after hitting any target.

You can secure profits by selling at least 50% on the first target (BitMEX trades) and secure the trade by raising stop-loss above buy-in after hitting our target.
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Related Ideas

Some times you win sometimes you lose. That's why we love stop loss :-)
On Binance ADA/BTC touched .786 fib level several times. Looks like it is holding there some support.
I would appreciate if you could analyse again ADA. Think it is now able to bounce up.
Reply
alanmasters CryptoTraderXL
@CryptoTraderXL, I will take a look later today for you.

Here we hit our first target, we secure profits and our trade after hitting any target.

Namaste.
+1 Reply
alanmasters CryptoTraderXL
@CryptoTraderXL, One final drop before the next move up. That's my analysis in a hutshell.
+1 Reply
CryptoTraderXL alanmasters
@alanmasters, I think it will drop to 1200 sat. Major support area. Cheers!
+1 Reply
alanmasters CryptoTraderXL
@CryptoTraderXL, AGreed. Cheers.
Reply
need to relook at this one alan, its holding support and just confirmed that bitfinex is looking to list ADABTC if u dont trust me.
Also, long time no see ;) hopes all is well!
Reply
hamie101 hamie101
@hamie101, if u dont trust me, confirm by yourself, charles did in AMA yesterday. idk when though but bullish!
Reply
@hamie101, I will take another look at the set up.

When is the BitFinex add?
Reply
hamie101 alanmasters
@alanmasters, this is what i dont know, it was confirmed yesterday however , i still think we are in good support https://www.youtube.com/watch?v=hO8eOlMJggM&feature=youtu.be&t=280 is the youtube video where he states it
Reply
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