Looking at Cardano (ADAM19) on BitMEX, I am seeing a potential bounce that can happen here.
ADAM19's retrace has been speeding up until it finally found support and a bounce happened around the 0.786 Fib. retracement level from the last bullish wave.
This is a strong support zone and a bounce can happen here even if Cardano is to continue with its retrace after it.
We also have:
The RSI is coming out of oversold.
The MACD is showing a bullish crossover.
Trading above EMA10.
Hit like if you want to see more about Cardano and other BitMEX futures contracts charts.
Thanks a lot for reading.
This is Alan Masters.
Namaste.
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Here is our full trade. First target reached for 29% ROE. More to come...
Trade: LONG ADAM19
Leverage: 10X
Buy-in: 0.00001424 - 0.00001455
Time Frame: 4H
Targets:
(1) 0.00001491 -Reached (2) 0.00001540
Stop Loss: Close 4H below 0.00001400
Liq. price: 0.00001340 (Buy-in calculated at 0.00001448)
Profit Potential: 63.53% ROE
Capital Allocation: <4%.
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Here we hit our first target, we secure profits and our trade after hitting any target.
You can secure profits by selling at least 50% on the first target (BitMEX trades) and secure the trade by raising stop-loss above buy-in after hitting our target.
Some times you win sometimes you lose. That's why we love stop loss :-)
On Binance ADA/BTC touched .786 fib level several times. Looks like it is holding there some support.
I would appreciate if you could analyse again ADA. Think it is now able to bounce up.
need to relook at this one alan, its holding support and just confirmed that bitfinex is looking to list ADABTC [ confirm for yourself] if u dont trust me.
Also, long time no see ;) hopes all is well!
hamie101
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@hamie101, if u dont trust me, confirm by yourself, charles did in AMA yesterday. idk when though but bullish!
AlanSantana
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@hamie101, I will take another look at the set up.
On Binance ADA/BTC touched .786 fib level several times. Looks like it is holding there some support.
I would appreciate if you could analyse again ADA. Think it is now able to bounce up.