Cardano (ADA) to $3.50

So many messages on ADA. Buy / Sell?? “I saw you’re short from $3 and dismissed it - he’s mad”, “I saw the 50 cents idea, always spreading FUD” etc etc. lots of anger, lots of emotion. Folks emotion is a money killer. When I publish those short ideas they are not without study. And for free!

Is ADA a buy? Of course it is. Why?

Real real simple..

On the above 3-day chart the RSI is highlighted with two thick orange lines. You see RSI below 33, it’s a buy. Above 77 (on 3-day chart remember), it is time to consider managing risk.

Right now RSI is at the same level as it was in December 2018 around 2-3 cents. This is a fantastic buying opportunity at this time. A buy from 37 cents is amazing if you can get it.


On the 3-day ADA / BTC pair (below) a ‘incredible buy’ signal prints within the falling wedge, a breakout would result in a 500% increase.

Is it possible price action falls further? For sure.

Is it probable? No.

Good luck!

Ww


Type: Trade
Risk: <=6% of portfolio
Timeframe: 1-4 months
Return: 10x

Trade active:

A 'great buy' signal has printed today. Look left.

Comment:

ADA bulls, it is time to get you bull on...

Are you annoyed you did not get in at the published 42 cents? Take my word for it, you'll be a whole lot more annoyed you din't get in at 56 cents this time next month.

The 1-day BTC chart (below) is now printing a 'incredible buy' signal, bullish divergence with multiple oscillators with price actin bouncing off the 200-week moving averages. What else can I do, sing it?

Trade active

Trade closed: stop reached:

The structure I was using for this idea has failed. Exit from 75 cents to $1, however you need to accept the very real probability price action is going back down to 40 cents and I just do not know if support will be found when it gets there. No one does until it is confirmed. If that changes I'll switch the idea back to 'active' status.

Trade active:

And we're back to 'trade active'. The conditions mentioned above have now become invalidated.

On the 5-day BTC pair price action breaks out of the bull flag formation. Good to go.

Trade closed: stop reached:

Ha, honestly ADA make up your mind. The conditions flipped bearish again. And in a big way. On the 10-day chart below price action closed a full bodied candle under the dotted yellow line. Never mind what it is, consider it the mother of all resistances.

Look for support at 20 cents.

Trade active:

Can't keep up with this one. Conditions flipped back to bullish. I don't see 16 cents coming, just don't. But throwing caution to the wind is no strategy either, be safe.

Trade active:

Price action breaks out of resistance

Comment:

Cardano fans.. you should expect a nice powerful move to the upside in the weeks ahead as the weekly stochastic RSI crosses up 40 following a strong 'buy' signal on support.

Trade active:

I'm surprised by the number of 'short' ideas appearing on Tradingview, the market is so fickle.

On the weekly chart below price action is on signifiant support and resistance. Look left. There's something else about the target, but that's for Patrons only.

Trade active:

Trade very active. Did you see what just printed?

If you're an ADA bull, this week is for you.

Comment:

Trade 'very active' confirmed. Did you buy the dip?
Bears went 'short' instead. Ouch.

Comment:

What If I told you ADA is about to jump to 75 cents?

Trade active:

Don't ignore this beautiful signal

Comment:

Last orders...

Order cancelled:

Closing this idea for the moment. There's been a significant change in market structure over the last two weeks, I don't like it. Not one little bit.

A sell out < 70 cents is excellent. It could get there, but that'll be because of Bitcoin not ADA.. The risk on market structure has jumped up a lot recently, and I don't do risk.

Shout out to fellow Patron for bringing it to my attention.

Comment:

If you're looking for an update on this one....

www.tradingview...no-ADA-to-3-50/?utm_source...

Comment:

Something interesting has printed. Should see a move to the 45 cent area shortly.

Comment:

As per last update the move to 45 cent area is almost complete. Don't beak out the bunting just yet, the ADA/BTC pair is incredibly bearish. A lot of work is needed to overcome this.

As the moment the dollar chart continues to print lower highs lower lows.

Comment:

The ADA / BTC pair is testing critical support. It simply must hold. Failure to hold this level will almost certainly result in a sudden and quick drop in price action.

4-day

Comment:

Have not changed the above chart since last update. The expected sudden drop in price action appears to be playing out following the bear flag breakout.

Summary, don't be bullish on ADA, -70% correction in progress.

Trade active:

In an unusual turn of events ADA price action has confirmed GRM support. That means price goes up from here. Price action is about to shoot past the 45 cent area.