Hello,
If you were following my ideas, you saw I last sold all my ADA at a nice profit at $1.43, and I was waiting for a nice pullback to jump in. I sold the bearish resistance on the RSI, which we bounced off. I was expecting more of a drop here, and a longer correction. It is March 1st, and I would have expected a serious sell-off in Cardano because it has been on a tear recently. However, we only got a 23% dip, and we are flirting around all-time highs.
BTC IS THE KING OF KINGS, ALL HAIL THE KING.
As you know, everything that happens in this market revolves around BTC. I was expecting BTC to hit $41k, which lines up with our long term support, the 50 day moving average, and the previous high. However, we only managed to get close to it, and the daily weighted MACD and RSI are signaling we may have found a local bottom. It looks like it wants to flip bullish on the daily, which will send the market back into bull mode.
If BTC flips bullish on the daily, ADA will start flying into all-time highs once again.
Be aware March is on average the bloodiest month in crypto!
I entered a trade on ADA at $1.30. Let's see if this plays out.
If you were following my ideas, you saw I last sold all my ADA at a nice profit at $1.43, and I was waiting for a nice pullback to jump in. I sold the bearish resistance on the RSI, which we bounced off. I was expecting more of a drop here, and a longer correction. It is March 1st, and I would have expected a serious sell-off in Cardano because it has been on a tear recently. However, we only got a 23% dip, and we are flirting around all-time highs.
BTC IS THE KING OF KINGS, ALL HAIL THE KING.
As you know, everything that happens in this market revolves around BTC. I was expecting BTC to hit $41k, which lines up with our long term support, the 50 day moving average, and the previous high. However, we only managed to get close to it, and the daily weighted MACD and RSI are signaling we may have found a local bottom. It looks like it wants to flip bullish on the daily, which will send the market back into bull mode.
If BTC flips bullish on the daily, ADA will start flying into all-time highs once again.
Be aware March is on average the bloodiest month in crypto!
I entered a trade on ADA at $1.30. Let's see if this plays out.
Trade active:
Cardano 4h chart has flipped bullish on the MACD, BTC has broken the downtrend, all signs at this time point to a continuation of the trend upwards!