ADAUSD - Leverage Swing (Long)

I'm bullish on non leverage investing long term when it comes to Cardano. I trust their fundamentals, and I feel it is a very good asset to own. As far as trading, I see a good opportunity to capitalize on this smaller movement.

Technical Analysis:

MONTHLY
-15.64% DIP

WEEKLY
-11.37% DIP

Q1 Enthusiasm seems to be the underlying sentiment as far as crypto assets in my opinion. Previous 2 years had very strong Q1 rallies I believe crypto will asses their dominance, and show off a tad bit to start off 2022.

We're buying low as indicated on the monthly and weekly percentage %
Since it is a leveraged analysis, It is recommended to use proper risk management. I feel the Stop Loss is probably too tight, but it may also be a sniper entry only time will tell.

Market structure is bullish forming HH's and HL's
Psychological support is at 1.30

The Fibonacci levels I set were based off the Weekly timeframe. The pump that happened in AUG 8 2021, up until AUG 15 2021- seems like an inefficiency that was mitigated but continues to respect the 0%-50%-and 100%

Weekly Candlestick show 4 weekly rejections off 1.20 price

Price looks like it is at support of ascending channel that it is forming.


As far as my previous post:

That is for non leveraged investing for a DCA strategy, this post is for a leveraged set up.

I use Coinbase for for my crypto portfolio and I use Hugosway to trade on leverage.

DYOR
Happy Trades