ADA reversal imminent

26 Feb 2021

In my opinion I think anybody could have foreseen the Cardano run it's had the last few months. This was too easy of a pick to get emotionally attached to. You made some profits, now lock them in. A lot of people bought this for the clout and have no idea what it is used for besides profit taking (currently its best feature, so use it).

The protocol implementations aren't a big deal, and I think they are already priced in. It will be a big fat nothing burger. Best case is that nothing bad happens and the network doesn't get clogged.

You have no more good news to look forward to as an ADA fan except for the next wave of mass retail speculation in late March or April.

Wave patterns, bearish divergence on the RSI, and 4 failed breakouts at the upper trending resistance build a bearish case.

28 Feb 2021

Nota

So far I missed the call for the top. Looks like I triggered some people by claiming this run was an easy call. It was the easiest call of the year behind BTC, and ETH. Maybe that's why I missed the top call. When I think a trade is overextended I live and die by it. I can't very well fomo back in now that it's even more extended. I stick by my call and I think maybe I just missed the top by a few days no big deal in my book.

Lots of strength breaking through the previous high and the upward channel, so it might not correct as sharply as I had drawn out, and I will have to keep monitoring it because I'm very neutral on the technicals right now.

I still wish all you haters good luck and bountiful gainz.