This is not going to be popular…
This idea is a continuation from the “Cardano (ADA) to 80 cents” idea published in September 2021. I’m now satisfied the conditions for continuation have now been met. Before the critics come out on mass, check out the 80 cents idea below before commenting. I’m not interested in tribal whataboutery, I’m only interested in the facts of the chart.
Why so bearish? The TA:
1) The 10-day bearish divergence alluded to in the idea below has now confirmed.
2) The trend is lower highs lower lows following the break of market structure.
3) The head and shoulders breakout on the weekly.
4) The weekly death cross. No one seems to be talking about it. It is very clear to see.
On the whataboutery:
5) From Meet Kevin on YouTube to almost 90% longs on Tradingview, everyone is a Cardano bull right now. $3-10 ADA is being called for. Let me remind you, 95% of traders will lose money. The herd always get it wrong.
Is it possible price action continues to move up? Absolutely. Price action might blast through the 21-week EMA (yellow line). If that happens, this idea is void.
Is it probable price action continues higher? No.
A short position from $1.30 Is excellent.
Is there a silver lining? Yes, look at the apps building on Cardano, almost all are massively bullish from a TA perspective. Shall I publish? I’ll think about..
Good luck!
Ww
Cardano (ADA) to 80 cents
This idea is a continuation from the “Cardano (ADA) to 80 cents” idea published in September 2021. I’m now satisfied the conditions for continuation have now been met. Before the critics come out on mass, check out the 80 cents idea below before commenting. I’m not interested in tribal whataboutery, I’m only interested in the facts of the chart.
Why so bearish? The TA:
1) The 10-day bearish divergence alluded to in the idea below has now confirmed.
2) The trend is lower highs lower lows following the break of market structure.
3) The head and shoulders breakout on the weekly.
4) The weekly death cross. No one seems to be talking about it. It is very clear to see.
On the whataboutery:
5) From Meet Kevin on YouTube to almost 90% longs on Tradingview, everyone is a Cardano bull right now. $3-10 ADA is being called for. Let me remind you, 95% of traders will lose money. The herd always get it wrong.
Is it possible price action continues to move up? Absolutely. Price action might blast through the 21-week EMA (yellow line). If that happens, this idea is void.
Is it probable price action continues higher? No.
A short position from $1.30 Is excellent.
Is there a silver lining? Yes, look at the apps building on Cardano, almost all are massively bullish from a TA perspective. Shall I publish? I’ll think about..
Good luck!
Ww
Cardano (ADA) to 80 cents
Trade active:
Perfect rejection from the 21-week EMA.
Comment:
** 3-day death cross ** has printed.
No matter if a crypto, a stock, a 3-day death cross usually spells nothing good for the asset.
No matter if a crypto, a stock, a 3-day death cross usually spells nothing good for the asset.
Trade active:
25 cents to go. Bears Just need to squeeze out those remaining bulls denying the inevitable. When they start cursing the project you know it's time to go long.
Trade active:
15 cents to go!
Nice break of market structure today confirming the target.
If 50 cents offers support, great. If not then will open a new idea to 16 cents.
Nice break of market structure today confirming the target.
If 50 cents offers support, great. If not then will open a new idea to 16 cents.
Trade closed: target reached:
Sellers can't get out quick enough.
What's next for ADA?
Well if 50 cents does not hold 16 cents would seem like the next stop then 4 cents. Will wait before making those calls though, got to see if there'll be consolidation at this level.
What's next for ADA?
Well if 50 cents does not hold 16 cents would seem like the next stop then 4 cents. Will wait before making those calls though, got to see if there'll be consolidation at this level.
Comment:
Read for the big collapse to 10 cents?
Weekly
Weekly
BTC
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Weblink: www.patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: www.patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
Still short? Yes. Why? There is no 'buy' signal. Emotions are a money killer.
Price action is printing within a falling wedge pattern at the moment. A breakout would be back to $1.20. Exciting no doubt but price action would have to confirm support on upper resistance.
What to do? Absolutely nothing. The higher time frames remain very bearish with the daily time frames being all over the place. Be patient. If a 'buy' signal appears on the dollar chart I'll surely publish on here.