ADA $4.00 by end of 2021?? My TA says quite PROBABLE!!.

I have been LONG ADA since $0.04 and have added to this trade several times over for rather BIG gains. The THICK Yellow Lines here show MAJOR TL Support and Resistance. Despite having broken below the lower support line price has tested and retested the TL Support without any real breaks lower to confirm a bearish trend (maintaining its slightly BULLISH bias. Crypto in general has been consolidating as has ADA. In the past BTC trended higher starting in July 2020 with ETH breaking higher later in August 2020 all while ADA consolidated. Then it started to move several weeks later. Is history repeating itself? This is the 1st time in a long while ADA has broken above 39 EMA and looks to want to break above MAJOR TL Support of the prior channel. EVERY time this has happened ADA reached the top TL Channel Resistance (TOP THICK Yellow Line) in short amount of time. Also notice how the 39 EMA has acted as support and resistance within this channel. So a break above also looks promising.

New BUY signal as we broke above recent candle high @ $2.04. Stronger BUY signal would be a break above THICK Yellow line around $2.21. Further, BUY Signal would be break above MAJOR Horizontal Resistance at $2.32. If those happen (which I expect they will) then expect $4.00 ADA by year end!!

I remain LONG!

Just my 0.02.

Trade active:

Well we got our breakout above the Yellow TL. This is GREAT news
NOW. As I have said EVERY TIME we have broken above this Major TL support level we ha e reaches the top end of the Channel in short order. We need a breakout above $2.32 to really be off to the races. I am already fully positioned in this one so I did not ADD. I do fully expect this trade to play out as described.

Comment:

Met resistance at $2.31-$2.32 level as expected. Right now making another run for break above that level. If we get a successful close above $2.32 I think this should really start to take off toward $4.00

Comment:

Checkout my new SHORT on AMD

Comment:

ADA showed some srength today but now has dropped back below its MAJOR TL support level with the recent drop in ALL of crypto late in the day. Need to stay hugging this $1.90 - $2.05 level or things could easily test much lower levels. Next support zone is $1.82 and below that $1.48. Will take no action on this one tomorrow. May consider ADDING to my positions if we get a deep retracement.

Comment:

No Changes

Trade closed manually:

Getting a SELL signal today in ADA as it continues to show weakness.

I have been in this one since $0.04 so have HUGE Profits so far. Closing out those ADA I trade around with and keeping my core position in this crypto as I think this is a long term hold as investment for me.

Closed Trading portion @ $2.0165

Trade active:

Opening NEW Trading Entry on this one.

We are bouncing off support and we have a new BUY signal today on 8 HR chart. The weakness I saw the other day is stil somewhat present but appears to be fading as we bounce off support and break above the last candle highs. Support was not definitively breached the other day.

So entering a small Trade Position with 1% RISK
Entry = $2.0482
SL = $1.9267

Trade closed: stop reached:

Well that sucks. Stopped out of several crypto trades. Staying neutral in CASH for a bit in crypto to see what opportunities evolve.

Days like today show the importance of NOT RISKING too much. Lost 4% today of realized losses between 3 crypto trades. Lost another small bit on another crypto trade recently. However, these losses have been more than offset by GAINS in other trades I have already posted. So far I am still well ahead but when I start to get stopped out on several trades in a row need to reevaluate if we are at a turning point of the markets.

Staying NEUTRAL is a position of strength!! We do NOT always need to be LONG or SHORT the markets. Patience,...as we wait for our next opportunity.