The saying 'Buy when no one cares, sell when the crowd is noisy' is still gaining value.
I don't have advanced skills or special abilities to discover or foresee this explosive rise!
Before it started rising at $ADA I, like everyone else, only knew that ADA began an 855-day consolidation and washout after dropping 90% for 250 days in 2021.
This is what we knew before the surge.
Then ADA started to rise, and a certain crypto news app pushed a message about how much it had risen, so I started paying attention!
I missed the first wave of 92% rise in the red box (see the above image), then I observed that the three moving averages at the 4-hour and daily levels were all in a healthy state (all diverging), so I was prepared to wait for a pullback to enter.
Then I entered at the 0.59 position, and just like everyone else, after buying, it dropped a little bit (see the yellow circle in the image below). Of course, I know this is normal fluctuation.
Then it started to rise, and I achieved a 120% profit on this wave, taking 20% profits!
Why take profits at 20%? We switch to the daily chart, and the current price has reached the Fibonacci level of 0.382 (see the yellow arrow in the above image), so I took profits at 20%. I will take 50% profits near 0.618, and for the remaining part, I will take profits near 0.786 or when it breaks the previous high, after all, the bull market has just begun, so I want to hold some positions.
Are there still opportunities to enter ADA?
The cost-effectiveness of ADA is no longer the highest; you can check out my other articles from the past few days, I suggest you follow me.
If you like ADA and want to find an opportunity to enter, I suggest waiting for a pullback. See the 4-hour level below:
You can wait for a pullback to near the 20-day moving average to enter.
ADA is still bullish in the long run.
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Love you all 🤟