Anyway, the on ADA' is still in play here. Since we had the high break out it has been moving sideways with decreasing . 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 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 view on ADA'
Please don't forget to like if you appreciate this :)
Previous analysis on ADA:
On the right, the blue and orange area will be my first 2 small entries.
The bulls need to keep it above that green support though.
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,
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 :)
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,