PerpXBT

Oh my sweet ADA

Short
PerpXBT Updated   
KRAKEN:ADAUSD   Cardano
What have they done to you?

From a higher timeframe prespective, ADA is in a massive downtrend and sadly, I don't think it is near ending.

However, locally, I do think we will see lower prices. After we do so, there is a very nice confluence zone, from which I expect a reaction to happen.

Minimum bounce of 10%. Who wouldn't take that?

BTC pair looks decent short term too ;)
Trade closed manually:
BTC looking for more downside, not entering this for now
Comment:
I would like to elaborate on why I am not taking this trade.
See my latest post to understand what BTC is doing.
The main problem with ADA is a) BTC situation and b) the ADA/BTC pair - link attached

Will post an update when I will feel like we are ready

Order cancelled:
Haven't taken this trade nor will I - BTC not looking finished here IMO

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