ADA/BTC Update: Breakout of consolidation flag. What's next?
Cardano broke out of it's Head and Shoulders pattern some weeks ago.
We've seen a consolidating bullflag which stayed for some weeks.
Finally ADA broke out of it and continues it's upwards move.
Smart contracts are set for August this year which is still some time.
Since we did not breakt fully through the nearby resistance we also could see a pullback before we finally get through.
Cardano is one of the most bullish longterm coins.
Already done:
- Mary Hardfork
- Coinbase listing
- Africal Special
- 100% decentralised
Upcoming:
- Smart contracts
- Grayscale
Basic rules:
- Never buy the top/ATH
- Take profit as long as you can (also partial profit is profit)
- Use Stop/loss for leveraged positions
- If you are not experienced, don't leverage in the first place
Enjoy the ride and don't be too greedy.
If you like the content, please like, comment and give this channel a follow.
We would love it if you could share your thoughts in the comments.
Discussions are very welcome here.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
- White lines are Fibonacci retracement levels
Helplines:
- Purple lines are trendlines we take a look at.
- Yellow lines are for visual help only.
Boxes:
- Either entry zone or support zone. Check the description.
We've seen a consolidating bullflag which stayed for some weeks.
Finally ADA broke out of it and continues it's upwards move.
Smart contracts are set for August this year which is still some time.
Since we did not breakt fully through the nearby resistance we also could see a pullback before we finally get through.
Cardano is one of the most bullish longterm coins.
Already done:
- Mary Hardfork
- Coinbase listing
- Africal Special
- 100% decentralised
Upcoming:
- Smart contracts
- Grayscale
Basic rules:
- Never buy the top/ATH
- Take profit as long as you can (also partial profit is profit)
- Use Stop/loss for leveraged positions
- If you are not experienced, don't leverage in the first place
Enjoy the ride and don't be too greedy.
If you like the content, please like, comment and give this channel a follow.
We would love it if you could share your thoughts in the comments.
Discussions are very welcome here.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
- White lines are Fibonacci retracement levels
Helplines:
- Purple lines are trendlines we take a look at.
- Yellow lines are for visual help only.
Boxes:
- Either entry zone or support zone. Check the description.
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