Hey, Alkalites! Check this long-term scenario! As you can see here, we have seen Cardano growing non-stop for the last few weeks following a very obvious pattern. Also, retail momentum indicators were starting to show weakness above the $3 psychological level.
RSI Divergences were used as profit-taking events, which could have caused the breakout seen. This scenario may cause whales to appear and redistribute wealth again. We expect Cardano to rise above the $3 psychological level soon, just to gather some liquidity from short-sellers and triggering some late Take Profits. This should cause another movement to the downside.
We will keep an eye on Cardano to try to find the most accurate entry for our bearish bias, as long as volume and market conditions remain the same.
I'll be damned there logical ppl in crypto world that don't expect cardano at 10, 20, 50 ex? And don't expect forever green? Damn.. Dont go extinct bud we need ppl that look at the oposide side, i was giving up on the feed thinking that there were only mindless bulls
thanks for sharing. ADA is trending at 80% buy at coinbase. I don't think ADA will drop below the $2.82 support line. however, after the 12, we can expect a massive sell out.
Jacktradestonkies
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@lucgarc1020, I agree, I don't think it goes below that support area before the release. Bought weeks ago at $1.22 and $1.57. I already took profits, I'm out of the fomo...now waiting patiently for a realistic re-entry for a long. Too risky to short at the moment. I have faith in the project long term but as you are, I am also expecting a dump after the release. Who knows though, some late arrivals might buy into the news in the days surrounding the release and pump it a bit more. It is anyones guess. I saw profits, fought emotions off and took them. Hope I don't regret it later.