Looking for Entry to ADA
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I've been learning a lot more about ADA lately and I like what I'm hearing a lot. I would like to enter a position, and I'm trying to figure out when is a good time. Overall, ADA's price tracks similarly to the overall market right now, so as the market goes ADA will go. That aside, I started to see if I could project a little further into the future with this idea. Here's what I saw:
- The downward motion hits some standard channels, with some repeating pull-backs. Based on the current channel position, it looks like ADA will start to drift up over the next 2.5 days, but I'd be surprised if it rose significantly.
- This modest rise will be followed by a sharper drop of about 10-15% percent by mid next-week.
- After this, the triangle will close with a slight further drop.
After that--I've no theories. Anyone see something I missed? Would be excited to see if anyone with wave pattern experience sees something in this chart.
As an after-thought, I do expect ADA to be a long-term winner in this market. There's been some good news about Cardano-based DApps lately, however that's future price action.
- The downward motion hits some standard channels, with some repeating pull-backs. Based on the current channel position, it looks like ADA will start to drift up over the next 2.5 days, but I'd be surprised if it rose significantly.
- This modest rise will be followed by a sharper drop of about 10-15% percent by mid next-week.
- After this, the triangle will close with a slight further drop.
After that--I've no theories. Anyone see something I missed? Would be excited to see if anyone with wave pattern experience sees something in this chart.
As an after-thought, I do expect ADA to be a long-term winner in this market. There's been some good news about Cardano-based DApps lately, however that's future price action.
Ghi chú
Well, can't win them all. This one went in the complete opposite pattern. The big lesson on this forecast is that I wasn't reconciling the effect that ETH & BTC reversals would have on this coin (identified in another idea). I was looking at each coin as an isolated market, when in truth (obvious in hindsight) they're all significantly effected by the rise and fall of those two coins.
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