arlisjohnson3

ADA With Bitcoin going up it's time to re-evaluate ADAUSD

BINANCE:ADAUSD   Cardano / US Dollar (calculated by TradingView)
ADABTC has had a slight retreat from it's weekly high of approximately .31 cents (currently trading at 3246 Sats .29 USD). The ADAUSD chart shows that there is a bull pennant forming. Option; Set a buy Stop Limit order to enter at this point if possible. If you try to monitor the charts and buy as the breakout occurs, you will MOST likely miss the entry point as the liquidity and bot control in this market counters manual trading on a breakout. The RSI on the 4 hour continues to drop . RSI Currently at 59; the recent days have shown that there is major support at an RSI of 55.

If BTC goes on a run up, pay close attention to the general alt market and note if alt coins are acting inversely or following suite. If they appear to be following suite, you can bet ADA will be one of the biggest winners. The Cardano Blockchain Technology and implementation will be second to none. It's definitely a longer term play in a market surrounded by 100's or 1,000's of speculative coins and tokens that will fail. (think microsoft , google in post dot com bubble).

With that said; after the breakout the T.A. shows an initial target of .3394USD aggressively, then .3575USD aggressively. Longer term please refer to my referenced ADABTC chart.

Please like and follow if my work has helped you out. Much Appreciation! Thank you.

AJ
Looks like we have met both our targets as of yesterday/today. Keep an eye on Bitcoin's action along with the alt coin market in general.
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Hi arlisjohnson3,
Nice chart and commentary. Good to give a touch of caution. ADA has been moving up in the last hour or so, 10:44pm AEST Sydney time. It's be nice to see 30% or more returns! Have liked and followed your idea.
Thanks again!
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@RDDgz99, much appreciation for your feedback, market definitely consolidating. Keep me posted on your insights.
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Awesome thanks!
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