Long

Updated

ADA still strong

If you've followed my previous idea about ADA, you know that I like ADA chart.

I think now it's almost safe to bet on continuation of strength for ADA.

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Can targets be really this simple? Ummmm, yes.

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But also targets are for noobs. Strong bullish bias, that's it.

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0.8s will probably be a big level before those. So that's for short-term noobs. And that's all.

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And can I change my strong bias tomorrow? Hahha yes. Nuke it below 0.35 and I am a perma bear.

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See the importance of this level. Test is possible. That'd be a lucky long. Place your stop just a little lower and you have a money printer if it works.

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Personally I favor the idea that we already bottomed atm. Number 1 reason is retail sentiment about the general market. And we have many bottoming signs TA-wise as well.

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8 days inside the regained level.

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But there is just so much confluence around that 0.39. So you never know.

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The most concerning fact about ADA is this. So we might really wanna get that test under 0.4.

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The sooner the better at this point.

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Here is another scenario that would make me feel bearish. Something like this.

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If you are not looking for bearish scenarios when you are bullish, you are doing it wrong.

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This is good but we need volume.

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You know what's impressive? ADABTC. Looks like it wants to confirm a new htf higher low.

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If someone has a good argument to fade this, I really would like to hear.

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Let's hope these greedy numbers will return to normal soon. You wanna see longer term conviction here. Not FOMO.

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Let me remind this. Technically what you wanna see is a new high or equal high then consolidation at this point. It should get boring soon.

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And this htf scenario won't happen without momentum on BTC pair. So eyes on that. Still holding on to support.

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I like what ADA did. Still holding ADA.

Trade closed manually

Sold ADA. Risks are just so high for crypto I had to take some out. ADA was a little bit disappointing so far. It can still go up for sure but.. Idk. I think my other positions are looking better.

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Bigger picture is still pretty alright. We've seen a significant effort to break this level. If it holds in spite of this, then it can move with lesser effort.

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If that becomes evident on the chart, I'll buy back some.

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mitsandwits

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mitsandwits