Short

Updated

Cardano

ADA
After the breakout of 330 support and confirmation as resistance, I expect an eagle attack and continuation into the nest.

Only if a close above the resistance is valid can it invalidate this idea.

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ADA played nicely with traders who wanted to short too soon and did not wait for a break back below 0.330.
You have to wait patiently like an eagle for your prey.

Wait for a possible return back below the trend line.

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The eagle is watching the rejection exactly where to expect, if the 0.330 area is broken and confirmed as resistance, an attack may follow.

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My opinion is bearish, but I may change my opinion if I see that the bulls really have power and it's not just a bull trap.
Because breaking the trend line and then testing it is bullish and it is an invitation for bulls to go long, but in the current market it is also a suitable place for a bull trap.

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I see weakness on the ADA chart at the moment, the bulls have failed to break through.
I see a rejection of the resistance and currently a break below the lower trendline.
If this is just a show for the bears and the bulls try to break through once more, it cannot be ruled out.
But if there is no breakout and a valid close above, then nothing changes.
If it continues to decline, it could probably hit a new low in two months.
I can imagine a round bottom below.

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ADA is trying to break 0.330.
Break it already, the eagle is waiting for food and a lot of traders would like to fill their bags below.

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ADA has reached a point where a minor pullback could occur before the decline continues.
If it breaks straight down that can happen too.

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The eagle attacked.

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In the previous idea I was expecting a smaller bounce here, it happened.
But we're still on the bear side, so it's a dangerous play here.

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ADA is sticking to the plan, so far it looks like a bearish continuation.
Returning above the blue line would temporarily invalidate this idea.

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I think ADA still has a lot of time before the next bull market, it is probably currently in this phase of the cycle.
It needs to go through a longer consolidation down.
If x10 ADA goes up, take at least some profit there or watch it go back down again.

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ADA didn't even stop at the first support and immediately broke through the second, decent sell-off.

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Ignore the news, in fact the chart was set for this move long before any charges were made public by the SEC.
It is only the trigger of the movement and the rationale for the market as to why it happened.
When the time is right to go up, there will be random positive news (Cardano won a dispute, the charge was stopped, or something like that).
There is no point in following the news, everything you need to know is in the chart.

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In my opinion, ADA is still building the bottom, currently it is somewhere in the middle of the road.
If you're trying to grab some percentage of the growth, that's fine, but if you want to hold Cardano for a longer period of time, I still think better prices will come.
Sometimes it helps to look at a reversal chart to get a better idea.
If it was not an inverted chart, you would probably see a strong breakout up and after the pullback you would want to go long.

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Watch out for this area, it could flush out altcoins, it can go and test 400B again, but it doesn't make sense because testing has already been done for 100 days.

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ADA made the pullback that I expected, it is currently breaking through the resistance and wants to pump blood.
No trading advice, just mapping out a possible path to the bottom.

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The ADA is probably testing a bear flag.
I don't care about this in trading, I buy the bottom or if I'm wrong, I prefer to buy after testing the yellow line, everything below is bearish and anything can happen there.
In any case, if you like gambling, you can buy it, maybe it will jump up again, but you probably won't know where to sell it, so you will fall again.

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