There isn't a lot to go off of when it comes to ADA Cardano.
One solid pump and dump when Cardano first hit the exchanges...and that's about it.
I took a Fib Retracement AAALLL the way back to the beginning. Since it has been so long and the Cardano program has come such a long way, I think we are in for a treat.
Cardano is a long hold for me. I personally believe in the project. I believe in IOHK. I believe in the functionality and staking. And most importantly, I believe in Charles Hoskinson.
That being said, I'm going to do what I usually do. Take profits at the .702 Fib and set a Stop-loss at the .786 with a 5% re-entry to a long. On this chart, I plan on taking 35% profit at the .702 ($.90) while I let the rest of the bag ride to the .786. My stop-loss will initiate at the .786 in preparation for a natural correction (on the daily chart). If we do have a correction, I plan on waiting for a green candle plus 1 confirming green candle indicating a reversal to the upside.
More than likely, we will continue on a bull run past the ATH (Gold line) into price discover. At which point I will reevaluate the climb to the top.
Goguen will be a game changer, and it's coming in a couple months, and so is the possible Coinbase launch. If this happens, its anybody's guess as to where the top will be.
Pack your bags now, or get in at the bottom of the correction (dip/double confirming green candle).
Happy trading my friends.
NOT FINANCIAL ADVICE.
One solid pump and dump when Cardano first hit the exchanges...and that's about it.
I took a Fib Retracement AAALLL the way back to the beginning. Since it has been so long and the Cardano program has come such a long way, I think we are in for a treat.
Cardano is a long hold for me. I personally believe in the project. I believe in IOHK. I believe in the functionality and staking. And most importantly, I believe in Charles Hoskinson.
That being said, I'm going to do what I usually do. Take profits at the .702 Fib and set a Stop-loss at the .786 with a 5% re-entry to a long. On this chart, I plan on taking 35% profit at the .702 ($.90) while I let the rest of the bag ride to the .786. My stop-loss will initiate at the .786 in preparation for a natural correction (on the daily chart). If we do have a correction, I plan on waiting for a green candle plus 1 confirming green candle indicating a reversal to the upside.
More than likely, we will continue on a bull run past the ATH (Gold line) into price discover. At which point I will reevaluate the climb to the top.
Goguen will be a game changer, and it's coming in a couple months, and so is the possible Coinbase launch. If this happens, its anybody's guess as to where the top will be.
Pack your bags now, or get in at the bottom of the correction (dip/double confirming green candle).
Happy trading my friends.
NOT FINANCIAL ADVICE.
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