With BTC dropping as we speak, now is the time to look at some bearish patterns in the altcoin market. One of them being ADA.
ADAhas been forming a bearish pennant since the big drop last month. In case we see a strong bearish break out of BTC in the coming hours, ADA might be a nice potential shorting opportunity.
Happy trading!
Comment
β
ADA is highly correlated to BTC. Wait patiently for a break out in the case that a strong BTC reversal will occur.
@cryptopunk48, IDK.
Doge has caught the publics attention especially with social media. Musk tweeting made that coin - even though it has no purpose (a few weeks ago) and a white paper written by a 5 year old.
However, if what Musk has said to the financial and crypto press about backing the coin and helping it to have an objective (the 'peoples coin' used in daily transactions). It could achieve this, but has a lot of competition that is years ahead (pundix, stmx and even xrp with a couple of tweeks - there are many more).
I have considered buying Doge in the dip this week - 16c oΕ less is good. I will think more today.
Shib - like many shit coins the name has mixed meanings. The white paper is pretty good and regular burns. I think I own a few billion shib (a buy and forget coin)..... need to check that. Good team. I don't like that one person owns (can't remember) a massive % of all coins - but, he did sell a load of them to support the Indian covid battle..... gets a 'gold star π for that.
Right now, given the volatile market and a big dip coming, I would spread my risk and get both.
Shib I would buy $25 worth and forget them for a few years
Doge - hmmmm π thinking
Rather than a dollar figure, I would risk no more than 2% of my investment capital. I think it will get to $1 in time..........or not. The crypto market can be a blood bath.
If both cases, only invest money you can afford to loose easily as both coins could become worthless if the "wind changes" (another coin catches the public attention and gets celebrity backing).
SignalProvider
β
My technical analysis shows that you are correct!
Well done
However, I think (plotted) that ADA will go to $1.36 and maybe as low as $1.16
These are my thoughts - they are not financial advice