ADAUSDT - Good Time to Begin Entry With Dollar Cost Averaging.
I'm of the opinion it is time to begin accumulating with dollar cost averaging technique. Keep in mind we may continue sideways for quite a while before we finally see a reversal to sustained upward pressure. We will know more of approximately WHEN this reversal to sustained upward pressure may occur by mid September. In the meantime, we can expect the price action to bounce up and down for a little while for the purpose of Re-Accumulation during this "Back-Up/Last Point of Support" (BU/ LPS ) of Phase D before we see a "Sign of Strength" (SOS) to transition into Phase E. I'm leaving this publication labeled as "Neutral" during this period of time of Re-Accumulation. Yes, it's POSSIBLE for us to see a shakeout at some point down to the 0.786 FIB Re-Trace. I'll follow up with a chart in this description shortly for you to see what price point the 0.786 is located.
Happy Trading and Stay Awesome!
David
Happy Trading and Stay Awesome!
David
Comment:
Comment:
UPDATE:
$0.08229 at 0.786 FIB "Based on Log Scale" may likely be the bottom. Could be do a 100% Re-Trace to $0.06930? Hard to say... I'll do another video publication very soon.
$0.08229 at 0.786 FIB "Based on Log Scale" may likely be the bottom. Could be do a 100% Re-Trace to $0.06930? Hard to say... I'll do another video publication very soon.
Comment:
UPDATE:
If you were fortunate enough to sell at a higher price than the current price level, I personally would be super happy to accumulate at current price level in preparation for the future. But that's me...
If you were fortunate enough to sell at a higher price than the current price level, I personally would be super happy to accumulate at current price level in preparation for the future. But that's me...
Comment:
UPDATE:
Someone asked me the following question:
SOMEONE:
I have a buy order at the 786 for ADA. But I am starting to worry that we are completely reversing trends now are we go back to a long term bearish trend with all this panic on altcoins what do you think ? I agree that the 786 would correspond to about the same drop BTC going to 9665. But can we really exclude that bull trend is just over... That's my question now. But BTC is still close to his 21 EMA weekly so it seems legit to continue some bull action after
MY RESPONSE:
There's one thing that is "certain" ... What's that?
That we are NOT "certain" of where the price is going to find bottom.
With that said, it's important to REALIZE we can never be certain and plan our trades accordingly.
Hence, the reason for "Dollar Cost Averaging Technique."
I would have had buy orders in between the 0.5 and the 0.618
As well as buy orders in between the 0.618 and 0.786.
Then still have a little bit of cash left over (maybe no more than 20% cash left over that I intended to use to buy Cardano) and use it JUST IN CASE it went lower. If it ended up not going lower, I FOMO back in somewhere between the 0.5 and 0.618 Fib Retracement levels.
Someone asked me the following question:
SOMEONE:
I have a buy order at the 786 for ADA. But I am starting to worry that we are completely reversing trends now are we go back to a long term bearish trend with all this panic on altcoins what do you think ? I agree that the 786 would correspond to about the same drop BTC going to 9665. But can we really exclude that bull trend is just over... That's my question now. But BTC is still close to his 21 EMA weekly so it seems legit to continue some bull action after
MY RESPONSE:
There's one thing that is "certain" ... What's that?
That we are NOT "certain" of where the price is going to find bottom.
With that said, it's important to REALIZE we can never be certain and plan our trades accordingly.
Hence, the reason for "Dollar Cost Averaging Technique."
I would have had buy orders in between the 0.5 and the 0.618
As well as buy orders in between the 0.618 and 0.786.
Then still have a little bit of cash left over (maybe no more than 20% cash left over that I intended to use to buy Cardano) and use it JUST IN CASE it went lower. If it ended up not going lower, I FOMO back in somewhere between the 0.5 and 0.618 Fib Retracement levels.
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