Cardano Prediction - Technical Analysis & Trade Strategy
Here's my technical analysis on Cardano (ADA). I use Elliott Wave Principles along with chart pattern analysis to extrapolate targets and find a trade with potential profit.
Cardano is a long term hold for me and added some coins a couple of days ago. Currently up around 40% and are looking to make a new trade. I explain my thought process and strategy in this video.
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Disclaimer: I'm not a financial advisor, and nothing I say is meant to be a recommendation to buy or sell assets. Don't invest money you can't afford to lose.
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I certainly hope you are right. I felt bad missing out on the 40% price increase but had most of my portfolio invested in SUB and ELA and just didn't have any fiat to take a punt.
Hoping to withdraw my SUB investment in the coming weeks, depending on several factors, and hope by then will be in a position to invest in ADA.
Thanks for the TA bro
Don't think about it, there will be other spots. Just don't FOMO :)
For sure. I am still relatively new to investing in cryptos, having started in January. Having said that, I have turned my measly 0.27BTC investment into 0.86BTC and finding it a lot of fun. I appreciate that is not a lot of money for most, but all I could afford.
I have made a few big mistakes along the way, including investing in NANO at it's all time high (was Railblocks at the time). That one hurt a lot lol but taught me a valuable lesson.
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As I've stated in my most recent post it's imperative to read the whitepaper and be constantly involved and actively seeking updates from devs on whatever token/coin you're interested in or at the very least you believe will succeed. This alone should be the guide for your buy/sell points and how you invest/trade in general.
Ask yourself this simple question before you make a buy/trade: is this buy/investment in a service/good that you personally would buy/use?
If the answer is yes, than have faith in your investment and the future of your portfolio. If the answer is no; than you're a dumbass plain & simple!
Sorry to be so brash! But why would you invest in something that you didn't believe in? This is a mistake a lot of new traders are making that I am noticing happening more and more. People buy into coins not that they think have a good platform/future or believe in the project, but because they simply think other people believe it will be successful
That should never be a baseline for traders/investors.
As for your TA; I most definitely agree! Upvoted. Keep in mind also that we are overdue for a correction on BTC which could come at around the $10-11K range in my opinion. Only time will tell!
Great TA! Keep it up.