Cryptocurrencies Strategy

CARDANO: Possibly a good setup…

CARDANO is one of these Blockchain projects that any crypto investor will have to consider in long terms positions. Specially these days since, after having lost more than 97% of its highest value at ATH, it is presenting a healthy and promising set-up, under the shadow of the BITCOIN rise.Under a pure TA perspective Nowadays, CARDANO presents a very attractive setup for a Bull run, however, uncertainty these days is everywhere and there is no “big announcement” supporting it besides its continuous development constantly going on.

The Elliot-Wave count for the daily looks pretty consistent. ADA seems still working on a (v)th wave upwards, sustained by the 50 Days Moving average and finding some strong resistance 0.09 USD level.However, the volume is great still and the configuration suggests that it may be a breakage of that resistance in very short term.Bullish pattern is also appearing here in a form of Inverted Head and Shoulders which projects the target price, if the resistance is broken, towards the 0.155 USD, which is more than 75%…

As usual, the tactic here for a quick trading is to wait for the breakage to be confirmed and put your entry and a Stop-Loss just below. Get some profits around the target price and consider entries again.


For long term investors, nothing to say but consider that the bottom is IN so I would not hesitate for taking advantage with this one.


Enjoy!


@toofasteddie


*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.

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