- I am very bearish on specific altcoins such as ADA, XRP, SOL, LUNC, SHIB and much more. Why? Because the charts are terrible and I don’t even know why you should buy these overpriced altcoins that will never make you rich. Some gains are possible, but you have to focus on altcoins with low market caps, not these Giants.
- It’s too late for the party. I am not saying these altcoins are bad. These coins are great, but the market cap is too high and whales want to buy them at a cheaper price.
- Cardano is in a massive downtrend, basically in a free fall mode, and another 47% drop is likely in my opinion. There is pretty much nothing bullish on this chart; the bulls completely disappeared.
- You can buy ADA at 0.1841, at least for a short-term bounce (150% – 300% profit). I will inform you about possible targets next year, so do not miss it and follow me!
- The price is printing a falling wedge pattern and a descending triangle . As you can see, the bears destroyed the triangle without any problem!
- From the Elliott Wave perspective, the market structure is insanely bearish and I expect 2 huge impulse waves downward to complete a major ABC correction.
- The bears are in power and I would not play with them at all cost. We need much more time to recover from this abyss.
ADA – 47% CRASH | Buy here!
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Professional trader and analyst. My specialization is in Elliott Wave Theory, Fibonacci tools, chart patterns, candlesticks, and price action. To analyze market structure, I use market profile and volume profile in my trading system. To analyze trends, I use trendlines, VWAP, and simple moving averages.