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.
Komen
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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.
You see that as 4 failed breakouts? The ENTIRE market has been red while Cardano remains strong. This idea smells of etherium bias and jealousy muhaha jk hope you're wrong tho
RickSmash
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@jjlcanter, Nah there's no emotion behind this, just logic. I've been long on Cardano since November. At a certain point you have to take profits off the table. I'm out of this trade and emotionally unattached. I'm looking for the next move.
RuDa01
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Too easy.. Did you miss out on this beautiful run?
RickSmash
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@RuDa01, one of the easiest crypto calls in the last 12 months for sure
RuDa01
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@RickSmash, hi rick thanks for your reply. did not mean to offend you or anything like that. I just did not see a reversal at the time you posted it at all. Check my publications to see my view and call for the possible top yesterday. Wish you all the best and great profits!
RickSmash
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@RuDa01, No worries brother! I have thick skin, and I totally missed the call for a top! I was wrong. I just think it was an easy pick a few months ago. Wish the best to you as well, I'll check out your ideas!
Willweiser
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I've noticed on the 1 hour chart that ADABTC has been following a pattern for the past month. It's happened three times so far, so it's pretty robust. Each time there is a bearish divergence between the price and the RSI when the RSI is in overbought territory (>70), ADABTC goes into correction which bottoms out between the 100SMA and 200SMA. Each time though, it has been a bullish continuation pattern where the price is simply consolidating for its next move upward. If it continues, I would expect ADABTC to visit the 2200-2400 neighborhood before continuing on upwards towards the next targets, optimistically around 4000 sat and 7500 sat levels.
RickSmash
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@Willweiser, I see that now, you're right its done that all of Feb. I won't call for a reversal pattern anymore but I don't think theres much profit left to be made over the next few weeks while it potentially sets up a bull flag.