The good news: We know it's going to fall
Good news Part 2: It's made us a nice profit
Good news Part 3: After it falls here, it will go high as shit. I kid you not. It will CRUSH my $1.35 long-term (6 months) target that I set 2 weeks ago.
Bad News: There is no bad news
So, how high can it get? Ehh, maybe 7925 Satoshi, right around the $1.15 mark or so. If you can short, that is where you begin. And we are going to target the fib levels that match up with the 13, 21 and 55 Day . Eventually I'm expecting a bounce off of the 55 . REMEMBER, the is our Sun! We always orbit around it. If we go to far, we will ALWAYS come back. That's just how it works.
After these targets are reached, you better believe that I am placing a long position on this thing. Dollar value wise, it could get as low as 40 cents. But we wont aim there just yet.
Remember, price is being pumped because of a roadmap release. When has a roadmap ever not ended in a dump? hahaha
Yo so I just got back from seeing Star Wars. First half was whack but out of no where there was a portion of 32.8 minutes that went HAM (trust me, I traced it using Fibonacci). So if you guys have some free time, I highly recommend using 32.8 minutes to watch that LOL. There was a wise quote in the movie where they say "Hope is like the sun, if you only believe in it when you see it, then you will not make it through the night." You better HOPE Cardano falls LMAO.
Anyways, I hope you guys did not enter the short position at the starting point, there literally was no time to. There are no signs of reversal yet, and it still can go higher. Based off of that run, the green line is where I think we can peak at. Remember, when trading in satoshi, actual price can be highly manipulated, and targets may actually be reached when they seem not to be. We will wait for the drop. Patience.
Another note. This is really bad. Cardano has not corrected much on the run. A lot of people think I'm trying to spread FUD when I call for these shorts. NO, that is not the case at all! Elliot wave theory states that anytime you take 3 steps forward, you MUST take 2 steps back. Corrections MUST happen when you go on these runs, and the less it corrects along this runs, the harder it will fall. We've seen it with MANY coins (*cough cough* Bitcoin) and it is INEVITABLE!! The good news is that because Cardano is rising so much, the retrace can only take it down to a certain level. But it STILL needs to correct! I am 100% bullish on Cardano in the long run, I love this coin! But guys it has to take some stops along the way.
You never want to catch yourself in the middle greed. Greed will kill you alive in this market. Greed is like a man's you know what who has no self control. You only have enough blood to function either your brain or your greed. LOL.
Check back with updates guys, they will come along. I'll activate the trade when I'm confident it's the top.
I don't think it's going to go much higher. If it does, stick through it. I'm literally 100% certain it will fall and I can NOT be anymore sure.
Trade is active. Listed on the screen are our new targets. KEEP IN MIND, even though this is satoshi, these trades are in DOLLAR VALUE. I expect at least a 32.8% decrease in overall value from the highest point we have reached ($1.34).
1) this was going to happen anyways, Bitcoin was just an accelerator.
2) We're getting more likely to eventually hit target 4 (still unlikely)
3) Cardano is losing more than other altcoins directly from their peaks!
Let me check on the progress of Stellar and Ripple...
Another shorting opportunity MIGHT be coming here in the next few days. Daily MACD is still pushing down. The 3 hour MACD pushing up helps me detect the possibility of finishing this B wave. We have support at the 55 EMA, BUT the breach of the 40 RSI on the 3 hour chart leads me to believe that we will eventually reach the oversold area and finish our C wave.
Cardano has already hit as low as 62 cents. It is possible that we can go as low as 44 cents again. No idea what that will be in Satoshi. Cardano just grew too fast, it's likely to correct for weeks. No long position coming yet. If we break RSI support I will hold off on long position. But this is why I say too fast of growth is harmful. Once coins like Ripple hit their Primary 5th wave, it's not gonna be a pretty sight. So we look for opportunity in other place :D
So i'm seeing this WXY combo EVERYWHERE. And I'm sure that that was a failed breakout, so lets not try to get fooled by that! We have two levels of support that we can play off of, but I like this blue support that we've formed. If it follows along those lines, then I will look into creating a nice long position for Cardano.
As we see we've stayed above this blue support line. I think we continue to move forward to our next resistance line, but I can't Cardano will go much higher than that. I like the bullishness of this correction, so I will keep in mind the possibilities of it nearing the end after another drop down.
Remember that Cardano has already hit a low of 44 cents (all the way from $1.35!!). It can remain on this satoshi support level but drop even further in price, based on the price action of Bitcoin. I think we can get a nice 20% gain or higher from this current level, based on the current price of 69 cents, that puts us around the 83 cent range.
Here is a bear scenario and a bull scenario here. The Bull scenario seems likely due to the formation of this small WXY correction with a ABCDE combo here. BUT, it would make sense to fall to the secondary support where the 55 Day EMA is located.
Wait for confirmation if you decide to go into a trade here. Cardano is showing potential to go either way. Sorry that I can't give clear directions here. I hope you all understand that corrections are a pain in the ass to work with.