Hello traders and enthusiasts ! I am "The Real Johny Button", legendary trader from wall street and Goldmans Sack here to express my opinion today ! Lets dive into the scenarios lining up for ADA:
Well it has been nice to be shooting some elephants recently. Everyone I hope got some of that last run a month ago, and made more profit on investment than any financial firm could offer over a 5 yr period.
So we could be in the correction period. I always look at the chart for the entire market cap to see overall what the hell is going on. On that chart we formed a low bowl shape (CUP) and have come up in 3 waves to complete this pattern...Next would be the Handle if chart patterns exist.
So across the board in crypto we have made this climb up, and are pulling back to correct ourselves. This will usually pull back to the 38% FIB level (PINK LEVELS ABOVE), before shooting up for another run to profit, making our Handle. The coloured FIB levels are my estimated measurements for the bounces down to the Pink 38% level before we explode hopefully...these coloured levels I adjust as the game plays out to use alongside indicators to predict reversals.
So i like ADA. It has made me rich in the past more than once, as i originally got it at $0.02 last yr. It is looking to create the best profit compared to other coins paired against the USD, it has a good team who is working hard on bringing this together...note; 2018 is the year of showing your cards people, and only true players (products) will be able to do that...all in all though ADA is being traded and is paired against the USD on Binance, so thats a good reason to back it for now anyway, you can trade inn & out fast and easy.
So the green lines above are my buy orders. Im going for the gamble, if it gets to them and they trigger. I will be happy to just hit one order...profit is profit, little or large. I dont think it will crash and never recover, it has to much happening this year, but it is always a chance, I will enlist an eject order, and play another day.
I expect the MACD and RSI to level out in some small consolidation periods on its climb down, so in later updates it will look really nice to trade.
note: Everything moves in 3's. I apply this thought to my charts and MACD reading. I call Elliot wave 12345, 3 waves up because thats just how i see it. 3 is my magical number and has proven to be a nice way to be on a good path for me.
Regards, Johny Button
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OK so we have reach our first level if we are in a correction period from the past month...i know this because we have made a consolidation (market is thinking) at this point, and has gone up and down, but worked sideways all in all the past day or so.
I have adjusted my fib levels measuring out this path encase we continue down as i want the market to do, but never can be sure this is what will happen. I have also adjusted my buy orders in green to suit.
I want to dollar price average, thats my goal. Right now i have made my first buy. I am now in the market. My goal is to get the next price rush up in a month or so, and if it were to explode from here i am profiting from now....but i want it to go down more and fill more orders as planned, and make me more profit from having more money in the trade.
I will have a exit level just to be safe after all these orders hit, but i have a good feeling about the market at the moment. The FUD has cleared i think
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well i thought it would go a little more sideways and clean up the MACD more...but i will take it.
On track to hit order 2
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zooming into the 4hr chart. This is a consolidation....now i am looking to see any consolidation signs showing anything major happening in the ADA market that may be a high indication of it going down, or reversing back up...
I dont see anything waving red flags on the chart. The question is can we break the 38% level of the fib and go lower...I hope so that way i make well over 60% just bouncing back to last months high...any break above that is glorious for me...i might buy a new car with this trades profit
The 1 day chart still looks great on the MACD for price coming down more. I am confident, and other experts on here are also saying the same. I always read the publishers thoughts on here that i follow. It is important to me to see perspective, and be open minded
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In the near future we will have a decision on the board...im looking at all coins for this as the entire market will move together up or down.
Hi John, thanks for your analysis on ADA and BTC. Love your charts. Now i got in ADA around 3100 sats. Should i get out now? As we all expecting BTC to retract?
johny_button
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@leo3003, you will have to tell me that in dollars...i dont trade in sats for the specific reason its like trading 2 liquid currencies....dollars is, at the end of the day what we want to make
leo3003
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@johny_button, thanks for your prompt respond. Just checked, i paid .33 usdt for an ADA on binance..
johny_button
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@leo3003, Im not a financial advisor, but you may have gotten FOMO. But if you hold you will always profit...just hold