BINANCE:ADABTC   Cardano / Bitcoin
Hello, in this post I will talk about Cardano (ADA). I am currently trading it against BTC using an automated strategy I built. But I wanted to share my analysis.

First check my Analysis on Bitcoin because when we trade against Bitcoin we should always have a clear look at the BTCUSD chart to know what's up.

Back to Cardano ,
On the main picture above we can see that the trend is starting to reverse, with the ascending trend line becoming a descending one, and the a big support (red lines) being broken twice. So I expect it to become a big resistance as it has been tested several times.

But as I said above I use an automated strategy that helps me trade even when I sleep because I don't want to wake up or miss opportunities haha!
So the bot bought a few hours ago and I kind of agree with it, I expect the price to bounce up against the descending trend line in white. If it shows resistances, I think I will sell once and for all and move on another crypto because I trade on BINANCE and I don't short.

Note: the green line is the bot net profit line, with shorts disabled.
Thanks for reading.

You can find all my automated strategies on my website.
ความคิดเห็น: Ok, it sold at 1119 sats and I will stop this strategy, because I believe the trend will mainly be bearish now for Cardano.
ความคิดเห็น: If we zoom out, we see better the new lows and even though price crossed over the 100 EMA with strenght, it failed to stay above, so I expect it to go back below it. But I could be wrong if price crosses over this descending white trend line.
I just prefer not to take the risk to keep trading an asset that's more likely to go down.

ความคิดเห็น: Everything going as expected. Keeping an eye on it.

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