ADA/BTC Update: Cardano stays strong with its POS

27 Mei 2021

Cardano broke out of the Head and Shoulders pattern early this year and formed a bullish continuation flag.
We did get the bullish breakout and did break trough the next two resistance lines.
During the market crash ADA dipped back to the 0.5 Fib line but mainly the 0.3 Line did hold.

Nearing the Goguen era with Smart contracts we look at a bright future where ADA hits new ATH.






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.
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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.