ADA Cardano looking super bullish, no need to worry about selling any time soon! If you followed my last idea, you would be doing well. It looks like it is forming a massive multi-year cup and handle pattern, with the resistance at all-time highs, of around $1.38 USD on the charts. There is no need to form a handle, but just call it a gut instinct to be prepared for one. The measured move on this pattern would take us to around $3 USD.
Longer-term, there is a lot of worry about should I take profits or is this the top?
Let's just put all that to bed, this is how I see things going moving forward. With all the announcements moving forward in Cardano, coupled with the fact BTC is in all-time highs, I would say we can comfortably estimate more of the same for the next few weeks to months. During this time, it is reasonable to expect a $2 to $3 ADA. Summer is another beast, and typically a slow time in crypto. It would not surprise me to see a black swan event, or a BTC correction in the Summer or even late Spring. Don't be worried, this is a normal part of the market, and if you cannot handle 40% drops, then you shouldn't be here. Be advised, this may not even happen and we can rally straight until Fall, but given my experience, I would say it is a little less probable. The slowdown in the summer would be used to shake out the weak hands and pump the bags of the larger players, so don't give in to their games. As for a peak, September is generally a hot time, even going into October. I would estimate a peak in this market in the range of Oct 2021, to Feb 2022. My longer-term conservative estimate would place ADA in the $5 to $10 range on the low end, with a higher end of up to $20. I know this seems unrealistic now, but once ADA gets on a roll, it is like a snowball rolling down a mountain, so people will be jumping in to chase the pumps. I am not saying it will stay long at these numbers, but do expect some sort of crazy peak.
What is my advice?
If you try to get cute, you will more than likely get burned. If you are already in profits, and not trading on leverage or trying to day trade, then do not even bother with the noise between now and Fall. The real money will come to those who hold out the longest. I will be updating along the way, so do not worry. I estimate we are only 50% through the bull market, and based on the market flows, we have a lot of growth ahead.
That is all for now, hope your Cardano bags pump hard, this is not financial advice, just my own opinion.
Cheers!
Longer-term, there is a lot of worry about should I take profits or is this the top?
Let's just put all that to bed, this is how I see things going moving forward. With all the announcements moving forward in Cardano, coupled with the fact BTC is in all-time highs, I would say we can comfortably estimate more of the same for the next few weeks to months. During this time, it is reasonable to expect a $2 to $3 ADA. Summer is another beast, and typically a slow time in crypto. It would not surprise me to see a black swan event, or a BTC correction in the Summer or even late Spring. Don't be worried, this is a normal part of the market, and if you cannot handle 40% drops, then you shouldn't be here. Be advised, this may not even happen and we can rally straight until Fall, but given my experience, I would say it is a little less probable. The slowdown in the summer would be used to shake out the weak hands and pump the bags of the larger players, so don't give in to their games. As for a peak, September is generally a hot time, even going into October. I would estimate a peak in this market in the range of Oct 2021, to Feb 2022. My longer-term conservative estimate would place ADA in the $5 to $10 range on the low end, with a higher end of up to $20. I know this seems unrealistic now, but once ADA gets on a roll, it is like a snowball rolling down a mountain, so people will be jumping in to chase the pumps. I am not saying it will stay long at these numbers, but do expect some sort of crazy peak.
What is my advice?
If you try to get cute, you will more than likely get burned. If you are already in profits, and not trading on leverage or trying to day trade, then do not even bother with the noise between now and Fall. The real money will come to those who hold out the longest. I will be updating along the way, so do not worry. I estimate we are only 50% through the bull market, and based on the market flows, we have a lot of growth ahead.
That is all for now, hope your Cardano bags pump hard, this is not financial advice, just my own opinion.
Cheers!
Comment:
Is this the handle to our cup as I predicted? Let's wait and see! I am still holding strong!
Trade closed: target reached:
My target was reached, sold all my ADA for a ridiculous profit at $1.43ish on average. I sold the bounce off the bearish divergence on the RSI. I am watching the levels of 99 cents, 82 cents, and 67 cents for possible rebuying opportunities. Everything hinges on how BTC performs. March is generally the bloodiest month in crypto so I am 95% cash.
