Not gonna be overly pessimistic, but despite the recent stimulus news, it is going to pass us by and influence us a bit later (people with the fresh cash know BTC first, ETH second and the void filled by a tonn of other currencies (including ADA) - third. First will the freshman investor use up the opportunities of former two assets in both trading and investing, then look at other opportunities. There will ADA's recent reputation kick in and raise the price with the inflow of new money.
Meanwhile will the market adress the other issue. After two months of skyrocketing ADA has become extremely overbought. The inflow of money has basically seized so there's kinda no verification of that mooning happening in February. The market has been vobbly already for the last couple of days and probably it's itching to loosen the grip over its dreams and crash the price. The first topic in this context is a funny little (+20%) signal but never else more.
Since we all love to find any pattern of price movement in order to feel ourselves as extremely powerful gods, here's the one I could possibly offer. The 38-day combo of an uptrend has changed into a downtrend with stiffly settled-in values (as RSI shows) at its core. The overall mood of the market here is represented by itself and the previous paragraph. At the time of writing the break away from it was not confirmed thus can I be sure for the near future of the ADAUSDT pair.
By a conservative estimate (the vobble before exiting the Feb. uptrend) the price will tumble down to $0.95. A more radical expectation (the most recent fall from $1.17, as far as I remember) - $0.97 but wa-a-ay earlier. Thus will I be betting on $0.96 with a bit of hope that I'm wrong and by the morning GMT Cardano will be breaking its newly found trendline.
This has been an observation from a rookie trader. Your reaction - your problem.
Meanwhile will the market adress the other issue. After two months of skyrocketing ADA has become extremely overbought. The inflow of money has basically seized so there's kinda no verification of that mooning happening in February. The market has been vobbly already for the last couple of days and probably it's itching to loosen the grip over its dreams and crash the price. The first topic in this context is a funny little (+20%) signal but never else more.
Since we all love to find any pattern of price movement in order to feel ourselves as extremely powerful gods, here's the one I could possibly offer. The 38-day combo of an uptrend has changed into a downtrend with stiffly settled-in values (as RSI shows) at its core. The overall mood of the market here is represented by itself and the previous paragraph. At the time of writing the break away from it was not confirmed thus can I be sure for the near future of the ADAUSDT pair.
By a conservative estimate (the vobble before exiting the Feb. uptrend) the price will tumble down to $0.95. A more radical expectation (the most recent fall from $1.17, as far as I remember) - $0.97 but wa-a-ay earlier. Thus will I be betting on $0.96 with a bit of hope that I'm wrong and by the morning GMT Cardano will be breaking its newly found trendline.
This has been an observation from a rookie trader. Your reaction - your problem.
Trade active:
It was all going to plan up untill this midday (GMT) when RSI showed a bullish divergence. At the time of writing it's confirming itself and the price moved from the average tajectory from the previous two descending scenarios to the one parallel to the average estimate of the last two ascending scenarios.
Waiting for ADA to reach the current trend resistance at $1.16 and then shall we see what's next.
Waiting for ADA to reach the current trend resistance at $1.16 and then shall we see what's next.
Trade closed manually:
Alright, no.
There was straight away a bearish divergence, so if you wanted a fast income, you could scrape up 6.5%, otherwise - local overreaction and a miniscule loss.
Back to $0.96
There was straight away a bearish divergence, so if you wanted a fast income, you could scrape up 6.5%, otherwise - local overreaction and a miniscule loss.
Back to $0.96
