I am trying to trade off of this idea that the the average gain in price will let me know when too many ADA have been purchased by bots or people, seems to be pretty reliable so far… I feel that many if not most all of ADA is being bought and sold into many hands for trading gains, seeing as it went from the less than 3 cents to over a dollar and then back to 13 cents so quickly with such high volume in trading. Perhaps this is obvious but I like to have a simple accurate picture of the reality before I get into any deeper thoughts about it. So we have the developments on the road map come out in Jan and everyone has to have some ADA, then staking and rewards are not coming soon, dump the ADA and try somewhere else, take profit ect. Were not exactly following the BTC price, but ADA will go up or down depending on the BTC price for sure, until staking and rewards are here I doubt that will change. My hope for myself and any other trader here is that we can acquire more ADA while waiting for staking, but the time is now, we only have these months waiting for the eventual update, then the trading dynamics will change greatly. When ADA has these gains, I believe that a large part of the volume is from traders who will sell ADA based on price and indicators alone, no interest in Cardano, but profit just like any other thing they can trade, therefore you can sell into the buying and buy back later, simply because you know that the gains are not from people deciding “I must buy and hold some ADA for the project seems amazing”
alone, the gains are in general perhaps, but the algorithms can turn the bots on, people see a 5% gain and want in, perhaps a breakout to untold highs tempts them for an hour and then they decide not today, sell, and there goes the price back to the average gain. Now I have charted some steeper price climbs than this from Oct to April as being probable and possible, but I have the feeling that people were thinking the same as I was, that staking was 2018 Q1 and the supply would diminish as people got into staking it for the reward, so any price was going to be ok, then a few hours after the Jan roadmap update people decided that was far away and the price just dropped and dropped, I never sold during all that and regret it, I had so much faith in whole thing I forgot the whole picture includes the near future too, and that people are mostly here to MAKE MONEY not ADA, and ADA is not quite what I would call money yet, except for at that one hotel haha, good for them. So I hope that can help someone make that sell order once in a while this May, realizing that there is a pretty obvious average price gain here, and the traders keep trading past that price again and again, take a little of their profits why dont ya?
I was able to use this theory to sell at .312 cents into tether and buy back in at .29, best of luck to you!
Again I thought this buying spree was in part traders, so I sold into the buying and bought a nice dip at .342, I bought back in so I can sleep well. I also traded into btc because I thought that the price of btc might still climb while ada was going down, I was wrong so I took less profit there but still a good trade, less risk, less reward…
I have been watching, and I thought btc was going to rise also, I still think btc will rise over the next few days, sure would be good for exposure if btc hit 11k in the near future, cardano has so much going on right now that if new users to the scene were to research its recent updates and upcoming near future milestones,you traders would find yourself in profits for sure.