BINANCE:ADAUSD   Cardano / US Dollar (calculated by TradingView)
I have been posting about ADA' a few times now the past 2 months, this time i am NOT going to give a short term view but only going to do the long/mid term view. Just too much noise on the lower time frames lately. TA is quite useless on the low time frames because Bitcoin' is moving too randomly. Each time when it looks to make a rally it drops and each time when it looks it will crash it moves up again.

Anyway, the bullish wedge on ADA' is still in play here. Since we had the high volume break out it has been moving sideways with decreasing volume . This tells me a lot of accumulation has been going on the past 2/3 months. If this chart of a non crypto asset, i would go long BIG time here without even a second of doubt! But it's crypto and there has been allot going on lately. But nonetheless i am going to give this one a try and make it a big swing trade. Meaning i will carefully scale in using 4 to 6 entries.

What i do upfront is, calculate what i am willing to loose if the trade fails. Then i look what my stop level(s) are and based on those two factors i determine my position size. This will be used for the first 2 or 3 entries. Because the other entries will only happen when the price is moving up so i will risk profit instead of my own money :).

ADA' chart here is actually saying that Bitcoin' won't drop below the 6000ish, because if it does it would mean the bottom formation here will get invalidated. I just don't see this happening for ADA' (the bottom formation is just so solid, but we all know alts follow Bitcoin'. So i have been in a twist the past month or two because of the mixed signals. There are a few more alts showing long term bottom formation's but the weak link is actually Bitcoin'. With it's low volume lately, everything has become uncertain. As if the uncertainty was not already enough, Tether price drop came along making things even worse.

Because this chart is so solid, despite all the uncertainty, to post this bullish view on ADA'


Please don't forget to like if you appreciate this :)


Previous analysis on ADA:

Comment: A break of the low, of the green support area, will be my stop loss.
On the right, the blue and orange area will be my first 2 small entries.

Comment: ADA is almost the same BCH, but still has not made that big rally as BCH. Assuming Bitcoin will turn bullish, i think ADA could make a similar move as BCH. A first step would be a good break of that channel on the left (can see the line on the right as well).
The bulls need to keep it above that green support though.

Comment: So far not allot has change, ADA bull made another attempt today to move higher. I can not make allot of this current movement, meaning i don't know what the next step is on the low time frame. Bigger picture is looking very good at the moment, against the Daily resistance trend line. Bulls need to hold that green support zone on the right. If they can do that, it should be a matter of time until we move up again.

Comment: ADA bulls are pushing, volume is increasing which is a very good sign. If Bitcoin stays above the 6400, i think it's a matter of time until we break that blue resistance line (same line of that channel on the left). I expect a big rally to happen when that 0.08ish breaks (assuming the volume will increase).

Comment: This green support has to hold, otherwise bulls loose the momentum.

Follow me on Twitter for updates here on TradingView: https://twitter.com/botje11TV

Free Public Telegram, broke the 5.000 level of members https://t.me/botje11
Thanks for this mate, I've been following this trade (buy-in at 0.069 with a stop at 0.07 now - free trade!) with a good portion of my portfolio (the other big ones being BCH and XRP). I'm a big fan of ADA (fundamentally, too, if I'm being honest) and see great potential for profits on this one. I also enjoyed your litecoin and ripple ideas. Regardless of how people feel about ripple, I'd imagine it'll bring some pretty hefty profits in the future. I agree with litecoin though - it seems pretty far from a 'bull run' confirmation, but when that confirmation eventually comes, I think it'll be pretty explosive :)

I also have my eye on stellar lumens (XLM) and tron (TRX) as possible swing trades too, though tron seems pretty indecisive right now with modest gains recently. If you have a hot sec, I don't suppose you'd mind putting in your two cents on tron would you? I can't decide if it's a good trade right now relative to BCH, ADA, and XRP. It seems like $0.025 and $0.028 are the levels to break, but I'd certainly appreciate your thoughts!

Keep up the great work!

All the best,
James
Reply
botje11 jscduk12
@jscduk12, Hello James, your welcome :)

From my big VIP list, XLM and ADA stick out the most from the big alts coins, fundamentally that is, for TA they come to me :). Honestly about TRX, most of them say it's a worthless coin. I think it probably survived because they did their marketing very good, it was one of the most popular coins of 2018. When a coin that can be made in 15 min, can get worth 10 billion+, i don't know what to think of it fundamentally. That's actually the only reason why i am not doing any analysis on TRX, because i always had the feeling the coin was hyped way to much. Happy to hear you made profit though :). I do sometimes make an analysis on request from my DT members, when they ask nicely :)
Reply
jscduk12 botje11
@botje11, Hey, thanks for this response mate, that last line made me chuckle :)

Yes, I agree, which is why I'm very hesitant with TRX. However, based on that hype, I suspect it'll bring nice profits someday (just who knows when?). Perhaps that swing trade will come in the future. For now, ADA (how about that rise? :D ), XRP (another nice rise :D), and XLM are for sure the solids in my books (plus NANO, LTC, and NEO). Hopefully we all profit together!

All the best,
James
Reply
botje11 jscduk12
@jscduk12, Yes they all made some nice rallies, ADA has a very big chance to make a big rally like BCH if the 6500 breaks on Bitcoin. Good luck :)
Reply
jscduk12 botje11
@botje11, Haha as usual, the good stuff only comes if bitcoin behaves :) best of luck to you mate!
Reply
botje11 jscduk12
@jscduk12, Thank you :)
Reply
@botje11, Very deep and big fan of Cardano here. When you discover ADA, its hard to find other projects that compare in quality. I'm curious, why do you recommend XLM fundamentally?
Reply
9 actionable trade ideas in alt coins, including Cardano. 40-80% gains incoming next few weeks. check out the setups in the comments section below this chart. good luck, traders!
Reply
Do you have a target for Cardano or are you just going to HODL until you're happy?
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out