ADA seems to show some positive signs, it has made slightly higher lows since a few weeks ago. But it's all inside a somewhat bigger triangle, so it's not out of the woods yet. Price also broke that bigger down trend line, which it has successfully retested as a support so far. It starting to show a similar pattern as a week ago, making less lower lows and now starting to make higher lows.
I think this is a very easy trade. The buy zone is quite clear, the stop just below the 0.13 and the target? Don't know yet, depends what Bitcoin will do of course. That red area is a target and the first big resistance. I think the risk reward is very great now. Of course every one looking at BTC because it's the leader of the pack, but i see clear signs here, that if BTC can go higher, that Cardano will most probably outperform BTC. But price has to stay above the 0.13!!
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Still some heavy resistance here and selling, if it pushes through, we should see an acceleration up
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Price is still having some troubles with the resistance, volume should kick in some more IF we push higher
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And lift off :)
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Buyers are clearly entering at higher lows
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I have closed 25%, reducing risk a bit and locking in some profit
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Real volume spike now with the break of the resistance. I am still holding the remaining position. There is much more potential.
Stop for half at entry level and other half at 0.160ish
I kinda think that ADA is overvalued. It's transaction volume is very low compared to its market cap.
botje11
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@hkh222, probably most coins are, just a small trade :)
Neocryptrix
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@botje11, Hey man I think you could improve these altcoin charts by posting in BTC pairing. Aside from XRP, LTC, ETH, BTC that are tethered to fiat really all I'm seeing in these dollar chart movements is the fluctuation of BTC/USD. I appreciate your dedication to TV and have been learning a lot from watching your trades on minute to minute trades. Super fascinating.