ADA.USDT (Y20.P4.E1.v2).Looking for the next long

22 сент. 2020 г.

** A continuation of the previous post, link provided below **

Hi All,

Just a reminder:
Most Traders are stating that we are in the earlier stages of a bull run, not just BTC but SP500 and Gold.
So what we are seeing is a likely ABC correction.
We have 2 types of possible correction, a mild or deep correction as I explained in my SP500 latest post.
With the SP500 we have hit the mild correction target of 3230, if its to be deeper, then 3230 is point A (refer to me chart below or previous post)
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If your one of those who want to go long with Cardano, along with LINK, LEND, KAVA, defi well performing coins, then here is the area where I will be looking to buy the dips.
Strategy: You are unlikely to find the bottom so start buying the dips, in this green zone.

If SP500 has hit its target, then we should see some bottom formation here and likewise with BTC we still maintain a lower high, charts below.
For now, it looks like the SP500 is holding along with the US dollar index, so a bounce is looking more likely.
Note the hidden bullish divergence with price and the RSI

Please give me a like or tick for this post.

Regards,
S.SAri

Current SP500 chart, wedge formation with a bullish div. in the short time period


BTC\SP500 correlation


My thoughts on the US dollar


BTC chart


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