Looking for The Next Move in Cardano, ADA/BTC?
Cardano, ADA/BTC one of the more popular coins has been in a nice recovery from its lows in March.
The recovery is not only lead by the recovery of the overall market/BTC but mainly because of increased visibility and key activities/events such as meetups, conferences, and recently a roadmap update.
Also, Cardano got listed on a few more exchanges with Huobi (Pro) being the latest listing today. And perhaps the more anticipated event that is coming up around the end of April is the "Gogeun" Testnet Launch.
The Gogeun Testnet Launch should bring more hype and excitement around Cardano which would drive the price up, even more, the coming week or two leading up to the actual launch.
If you would like to enter ADA/BTC for a short-term swing trade I would wait for some pullback cause the price is a bit overextended and on the 4 hourly chart, an RSI divergence looks to be forming. And with a (key) resistance at around
0.00003000 there should be more profit taking to expected.
That being said, if you like and believe in Cardano in the mid-long term then you don't have to time as much and you should ride the wave up and down and expect it to go further up in the coming days, weeks and month cause of its potential.
For the short-term swing traders, here are some levels to look at:
Buy Area:
0.00002800 - 0.00002860
Profit Targets:
1. 0.00003132
2. 0.00003322
3. 0.00003495
Note: don't forget to secure some of your profits along the way. Is always a good idea to take profits, even though a target has not been reached yet.
Stop Loss:
0.00002688
Leave a comment if you have any questions.
Like it, if you liked it and share it if you loved it. This is for good karma :)
And until next time, good luck with your trading!
The recovery is not only lead by the recovery of the overall market/BTC but mainly because of increased visibility and key activities/events such as meetups, conferences, and recently a roadmap update.
Also, Cardano got listed on a few more exchanges with Huobi (Pro) being the latest listing today. And perhaps the more anticipated event that is coming up around the end of April is the "Gogeun" Testnet Launch.
The Gogeun Testnet Launch should bring more hype and excitement around Cardano which would drive the price up, even more, the coming week or two leading up to the actual launch.
If you would like to enter ADA/BTC for a short-term swing trade I would wait for some pullback cause the price is a bit overextended and on the 4 hourly chart, an RSI divergence looks to be forming. And with a (key) resistance at around
0.00003000 there should be more profit taking to expected.
That being said, if you like and believe in Cardano in the mid-long term then you don't have to time as much and you should ride the wave up and down and expect it to go further up in the coming days, weeks and month cause of its potential.
For the short-term swing traders, here are some levels to look at:
Buy Area:
0.00002800 - 0.00002860
Profit Targets:
1. 0.00003132
2. 0.00003322
3. 0.00003495
Note: don't forget to secure some of your profits along the way. Is always a good idea to take profits, even though a target has not been reached yet.
Stop Loss:
0.00002688
Leave a comment if you have any questions.
Like it, if you liked it and share it if you loved it. This is for good karma :)
And until next time, good luck with your trading!
Dagangan aktif:
We had a little pull back yesterday but nothing spectacular cause the FOMO and excitement kicked in again.
If you missed the run up yesterday then look to buy in around 0.00003000 for an entry for a possible next leg up.
New Buy Area:
0.00002930 - 0.00003030
Good luck with your trading!
If you missed the run up yesterday then look to buy in around 0.00003000 for an entry for a possible next leg up.
New Buy Area:
0.00002930 - 0.00003030
Good luck with your trading!
Dagangan aktif:
I was too picky with my buy area/entry with this one. Hope you took the trade anyways and made some good profits.
Two targets reached already and target 3 in sight.
Again, good luck!
Two targets reached already and target 3 in sight.
Again, good luck!
Dagangan ditutup: sasaran tercapai
You can find a new update and trading idea on Cardano/ADABTC here: