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ADABTC trade ideas

Cardano (ADABTC) - Coin of the weekCardano is a proof-of-stake blockchain network that aims to empower "changemakers, innovators, and visionaries" to effect lasting social change. The open-source project also seeks to "redistribute control from unaccountable institutions to the margins to people," resulting in a more stable, accessible, and egalitarian community. Cardano has a price today of $1.22 USD with a 24-hour trading volume of $6,719,866,914 USD and a market capitalization of $39 billion. It has a circulating supply of 31,948,309,441 ADA coins and a max. supply of 45,000,000,000 ADA coins. Cardano started an uptrend on the daily timeframe in the middle of January and topped on the 27th February at the price of 0,00003195 BTC per ADA. From the 27th of February until today we are in a retracement that looks (now) like its correcting for at least one more leg up. On the 4h timeframe we have a structure that started in the middle of March and it’s still developing. Crucial zones that will determine the future direction of this pair are the support area and the minor resistance marked on the chart. If we see a down move that will break the support it will increase the chances for a deeper retracement. If it will break the minor resistance and will consolidate there, we should see the price trying to reach the major resistance. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Short
by financialflagship
38
ADA/BTC long-term analysisThis year, the ADA is one of the few coins to say they were able to perform above the BTC I am not fully familiar with the project, so I will provide a purely technical analysis. Analysis: The graph shows a weekly view. I marked the supports/resistors with green/red horizontal lines. With black resistors from the 2018 top to bottom. Apparently, the trend against BTC has already been reversed. There is little chance that the exchange rate will fall to the middle green line. If that did happen, I think it would definitely last, because there was the most traffic so far. What I find much more likely is that the current top green line will function as a support and it will hold. Another interesting fact is how the price behaved on the resistors marked with a downward black line so far. In all 3 cases there was a strong stab and then he started to descend on the resistance pretty slowly. Then he broke through the resistance halfway through and descended on it further than on a prop. I wouldn’t be surprised if this trend continued. I marked with a red arrow an idea of ​​him climbing up the black resistor again, then circling over it, and already descending like an inclined support. Finally, the support lasts, and again another rise can be assumed for a higher resistance zone to the horizontal line marked in red. As I mentioned, the ADA has gone a long way, this consolidation is completely normal. The horizontal black arrows below show the times from previous ascents to falls. If the trend remains, consolidation could take 26 to 33 weeks, followed by an upward eruption. The FIBO levels indicated on the right are already starting to fetch nicely. RSI: Apparently there is a sloping resistance line, these are worth monitoring because they can signal a trend reversal. Unfortunately, the RSI does not affect the lines very accurately, somewhat chaotically. Conclusion: Just as a horizontal line functions as a resistance and a support, so oblique lines play a similar role. Consolidation is expected in the short term, which has apparently already begun, but in the longer term it looks bullish. Remember, it's all for BTC! The analysis is based on bear market data. Data on the rise of the bull market are not yet of sufficient quality. So there may be much faster and more intense movements than I analyzed above. The power of HYPE should never be underestimated! If you liked the analysis, click on a liking and subscribe to be informed about future analyzes and updates. Non-financial advice. Trading in cryptocurrencies is risky and can result in losses. Translated with Google Translator Peace The-Line
Long
by The-Line
2
ADABTC - Head and Shoulders on the dailyIf this head and shoulders is confirmed for the ADA-BTC pair, it's going to get very very ugly, and probably very quickly. The downside is massive from the top of the head to the neckline, measured below the potential bearish break point. The overall trend is still very bullish, but short term momentum has slowed, which could potentially lead to larger breakdowns in price action depending on what the BTCUSD pair does in the coming days. The most recent 5-7% dip in BTCUSD price weakened a lot of other crypto pairings, causing similar pullbacks market wide. If that dip turns into a longer term correction, odds start to stack up against a continuation of the bullish trend, and start leaning into bearish territory. My plan is to remain watchful for breaks below any key levels of support, and to exit positions if that occurs, without hesitation.
by Crypto_Mayhem
1