Short on ADA

BITTREX:ADABTC   Cardano / Bitcoin
ADA's Marketcycle (12345 purple) made an 3000%+ profit.
After such new paradigms and overvalued heights, corrections will follow.
Now notice that I've marked the 0.786 fib level.
This is a common level for forming a new strong support, after an ABC correction have been happened.
For the long term, I think ADA/BTC is a great coin.
However, to start a new cycle (second degree wave count) ADA first needs this correction.
After this, the new cycle can start, confidence and FOMO will rise and ADA will go up.
Just have patience and don't trade it right now.

ada is going to go esp with the new update... wtf is this?
I don't see it. Not with Bitcoin going up, I see a breakout. We are on the end of the bearish trend.
+1 回复
Sorry bro I don't agree, ADA won't go that low.
Already correcter at 61.8% Fib, now daily RSI and MACD are almost ready to give some fuel and volume.
And we are at the end of the big triangle since last ATH. I see a up breakout.
Just my opinion :)
+2 回复
Is this a sell or hold for those who already own ADA? How does it correlate with BTC/USD (this scenario changes if..)?
+1 回复
ArjunNiek thisisfabiop
@thisisfabiop, that depends on your entry. If you bought ADA at its all time high i would just hold and look back at it over a year. If your loss isn't that much, i would personally sell it, because if I buy at the bottom, i could buy way more ADA then before.
Here's a little example:
If i had bought 1000 ADA around 5500 sat and now sell it at 4350 ish sat, that would a rounded 20% loss.
However, if ADA corrects more to the downside (i believe it will) you can buy up to around twice as much as you're holding right now.
Don't take this as financial advice. But my indicators and candlesticks tell me ADA needs to go down more and more.
How you play it is up to the trader.
ADA is correlated with BTC/USD. So if BTC would fall to around 5k ADA's correction will happen faster, with even chances of lower lows.
+1 回复
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