ADA/BTC In Relation to BTC
ALWAYS LOOK AT COINS IN RELATION TO BTC. NEVER TRUST SOMEONE WHO DOESN'T LOOK AT THE RELATIONSHIP TO BTC.
THE CHART IS INTENDED TO BE ZOOMED IN ON TO SEE CERTAIN POINTS. PLEASE DON'T KILL YOUR EYES LOOKING AT THE SPECIFICS OF THE ZOOMED OUT VERSION.
See what BTC might do before thinking about buying any Crypto. I believe in trading when BTC looks good to bounce (continue/end current trend)and using BTC as the base-point for buying into and out of alts. Coins may trade on their own TA, but more than not their TA will be effected by BTC. Due to the severity of the big trends possibly ending.
So it seems that the movements in the past week have been moving according to the basic support lines and fib retracements. I don't see anything special about Cardano on its own.
I don't believe much needs to be said. I do not see Cardano going up on its own without BTC. It looks like a very nice Alt to be in instead of BTC when BTC goes up in price, or changes towards an upward trend.
We can see from the data in February 12-20 that there is a lot of open space. AKA no resistance or support. AKA substantial movement when it gets to that area. We see this confirmed one time during April 27th to around may 2nd. I believe that once Cardano can reach that area again, we will see the same type of substantial movement with only slightly more resistance/support areas.. As the time the open space was respected, we saw the same substantial drops and rises.
Long story short, I think Cardano/ADA should be traded off of BTC and once BTC looks good, trade into Cardano off of Cardano's TA. Take BTC as the green and red light for trading.
Here we see the similar pattern of BTC being bought on the 28th at 16:00-20:00 hours and then respects the support and resistance of its own TA.
THE CHART IS INTENDED TO BE ZOOMED IN ON TO SEE CERTAIN POINTS. PLEASE DON'T KILL YOUR EYES LOOKING AT THE SPECIFICS OF THE ZOOMED OUT VERSION.
See what BTC might do before thinking about buying any Crypto. I believe in trading when BTC looks good to bounce (continue/end current trend)and using BTC as the base-point for buying into and out of alts. Coins may trade on their own TA, but more than not their TA will be effected by BTC. Due to the severity of the big trends possibly ending.
So it seems that the movements in the past week have been moving according to the basic support lines and fib retracements. I don't see anything special about Cardano on its own.
I don't believe much needs to be said. I do not see Cardano going up on its own without BTC. It looks like a very nice Alt to be in instead of BTC when BTC goes up in price, or changes towards an upward trend.
We can see from the data in February 12-20 that there is a lot of open space. AKA no resistance or support. AKA substantial movement when it gets to that area. We see this confirmed one time during April 27th to around may 2nd. I believe that once Cardano can reach that area again, we will see the same type of substantial movement with only slightly more resistance/support areas.. As the time the open space was respected, we saw the same substantial drops and rises.
Long story short, I think Cardano/ADA should be traded off of BTC and once BTC looks good, trade into Cardano off of Cardano's TA. Take BTC as the green and red light for trading.
Here we see the similar pattern of BTC being bought on the 28th at 16:00-20:00 hours and then respects the support and resistance of its own TA.
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