Cardano Plunges To Bear Target. PANIC RISING! (How To Prepare For ADA Now)
What is up, everyone welcome to crypto capital venture. Thank you. So much for stopping by i appreciate you coming in this is a cardinal chart were going to dig into the charts were going to talk about the 50 cent target that it it got hit. I cant believe it got hit were going to talk about. It were going to talk about whats in store for cardano. First before we do special shout out to our sponsors. This is a sponsored video card to shift launch today were going to talk about that hit. The time stamps towards the end of this video, but shout out to them and its just such a good example, everyone of and a motivation of what we all should be doing in this type of environment. This downtrend built builders are really the foundation of the cardano ecosystem, and the builders are building right now, no matter what price is doing and that is very encouraging to see the fundamentals as strong as ever in terms of cardano. So we have to underline this. Video with that right were looking at price and were looking at the downtrend and stuff. This is cyclical. This is what happens in crypto its, why we were ready for it, but just remember whats, going on behind the scenes and how this is extremely early stage, though risky. It is early stage and we have to commend the builders that are building right now: 51 cents. On the charts you can see it there, it is this is so i did this video im not going to show you a clip, but this video was from january 8 2022.
. We kind of started kind of looking at the potential setup that was getting ready to happen. If we entered this, this bearish environment, something triggers an event where crypters are falling, 50 cents was kind of that macro target, and in this video, even the clip and i posted on twitter, i said i dont think its going to happen, but we have to be Ready – and here we are, it happened, it was a slow move. Weve tracked every step of the way its been grueling. I use that word a lot grueling. We hit the 80 cent target and we started to form some structure potential supports and then boom its. It was a very quick fall to the 50 cent target, and i mean this 50 cent target if we go back here to the to the uh six hour, chart real, quick, just zooming in this just happened like as i was getting ready really to do this. Video, it was hit, and now the question on my mind and im sure yours is well what next it would be a picture perfect if ada just bounced off of this, and that was the low the issue with that is uh bitcoin. The issue with that is is luna and what that has attracted to the crypto space in terms of really trust and confidence right now in the crypto space paired with ultimately traditional markets and everything going on in the world right now, theres a war going on.
On top of all this meaning crypto can continue falling right, so we have to be extraordinarily careful right now, but from a technical analysis perspective and as as we use the maps or the the charts as a map, a road map uh, we have to just start Tracking now structure in a similar way where we started looking for structure uh back here when cardano hit an 80 cent target, that we were kind of tracking simultaneously with the 50 cent target. So we got some structure and then going over to the daily chart. What we were trying to track was a bullish reversal. So you know here was that first bounce off of 80 cents revisit to 80 cents consolidation and then boom 20 20 day moving average actually started, seeing an uptrend as cardano took off to the upside, and we were starting to see, can ada start seeing support above These moving averages the 50 day the 20 day and start putting in the higher highs higher lows, thats thats generally. The type of picture we see in a bullish environment is a move like that. We were waiting for a bullish. Confirmation move like that and it didnt happen. We got very quickly rejected below the 20 day, moving average and coronado continued falling. That was kind of a bearish confirmation more than anything, and so we have to take all of these things in stride, along with whats, going on in crypto markets and whats going on in bitcoin and before we dig into the next price, move for cordano and structure And what that looks like for some, i think important information.
I just want to note this a couple things actually on the bitcoin chart number one. I talked about this on a twitter space that i did earlier today that i was on. This is bitcoin on the weekly look at it approaching this historically oversold area. Last time in this general vicinity was the covet swing low before that was the bear market low of 2018 before that was a bear market low of 2015 and before that was all the way back here in like 2012., each time bitcoin was forming its bottoming area Zone whatever you want to call it and on its way to huge gains right so that isnt to say that this is going to happen again. But with the fear and with so many people. Now calling for crypto winter and calling for things to really get bad. And they could just keep that in mind as youre kind of analyzing and trying to figure out what to do with your portfolio. This data point, i think, is very important um, so this isnt financial advice, obviously, but i think this data in terms of any altcoin that you own or if youre just owning bitcoin, is extraordinarily important, and i wanted to point that out now. On top of that, in terms of the bitcoin chart, as it applies to cardano, i want to point this out as well. Bitcoin in 2017 swing hide to the bear. Market. Low was down like right, around 85 percent right its, like 84 85 percent.
You see that there right now, if we go over here to the daily chart cardano in in this cycle, that its in and cardano is still a pretty new coin, its not as old as bitcoin cordano right now is down. 83 84 percent. Bitcoin was down 85 in this. In that last cycle, did that mean on this weekly chart that bitcoin was done? Did it mean that it didnt mean that at all right in this up and coming technology, that is bitcoin? This drop was actually a great opportunity and if we go look at cardano and what its doing and we actually start zooming out on the charts look at this. This is a very similar drop right now to the 200 week moving average, even just below. As we sit here and four days left on the weekly chart, this drop and this new technology as cardano, continues to build out its network right now. In this this era of scalability cordano proving itself over the years. Over and over again, the fundamentals are so sound. Im not really going to talk about them right now. Is it okay that cardanos dipping 80 plus percent bitcoin? Did it why cant cardano thats, my general thought the these are the cycles of crypto crypto is so so volatile and altcoins more volatile than bitcoin, so we can anticipate these moves and thats. Why its realistic to talk about all the way back here in january 50.
Cent targets thats, why its realistic is because, unfortunately, this is what cryptos do, but also, fortunately, its what cryptos do. In my view – and this you have to take this with a grain of salt opportunities start beginning to form here where the fear is high and the risk the risk is definitely right glaring in our face. We know that we just saw what happened with luna. Anything can happen, but at the end of the day, it is what it is we this is, you know when we get into crypto. This is what weve signed up for. We know this weve weve tracked this data time and time again in terms of downside, so putting that aside here, we are cardano hit the target. What is next, i kind of want to go and talk about this trend line once again that i actually charted, i think it was yesterdays live stream. You see this trend line stemming all the way back to november 2018 on the cardano chart. We have these two swing highs here that we kind of were were trent, were putting the trend line over really the top of the wicks there and then were just pulling it up and last nights video. We talked about the interesting area on this chart where that trend line is confluent. With the 50 cent targets right, we we talked about um thats, a its a pretty intriguing data point to track for cordano, and it it is.
Even now, as i do, the video on on this daily chart. Almost three hours left of the daily candle will cardano close the daily candle above or below this area, its kind of on the short term. What im watching will the candle just very aggressively continue to break to the downside and close uh overextended or separated from that trend line 50 cent target i mean, could cardano close below in the 40 cent range 45 range. 10 percent below this support area be very interesting or will structure begin forming now either way. The 50 cent area, this trend line area, im curious, and we can only speculate to see what kind of formation comes now right. Would it be a bounce, and maybe an ascending triangle in play, that we can start tracking or will it be kind of more of cardano falling through and actually starting to form structure around it in a different way, a symmetrical triangle of sorts? What will what will happen? This is why im here tracking these things, but im tracking it so that i can anticipate and so that when i am buying ada, i know whats going on in the charts. I know where targets are. I know where support areas are. I know where bullish confirmations are. I know where bearish confirmations are the other trend line down. Here i was just as i was setting up this video i started to notice was this? If i go all the way back here – and i say okay, i i would like to include this move right.
This was right. You know july 2020 swing high, going into this higher low right. But if i want to include, as cordone is coming out of covid and into this swing hi, if i want to include this swing high, what would happen if i, if i kind of take it from back here, kind of bring it down a little bit going Through these, these weekly swings swing, highs and just chart it over right and heres. What we have now we have from where cordon is right. Now this this trend line going to around 35 cents and were creating kind of new targets here right. So if cardano doesnt see this immediate support here at 50 cents, whats interesting about this 35 cent area, is this previous swing low to swing high, where we did not see high or low support at the fibonacci channel in green? There you see the 618 around 93 786 around 86 cents. We have the 1618 lower low area in play. So now were in this kind of interesting support area where we have 50 cents that we just talked about all the way down to 35 cents and confluent. In the middle of those areas is a 1 6 1 8 of a fibonacci on the zoomed out daily chart. So i think, right now anywhere in this general vicinity, we could start seeing cardano form structure to the downside. If cardano doesnt see support immediately at the 50 cent targets were looking another 20 to 30 percent to the downside for cardano to be prepared for um in this video i said in january and theres no telling what was going to happen.
I said 50 cents to around a dollar is a heavy accumulation area for me and i will admit in this video for sure no problem. I looking you know in hindsight. I wish i cause ive been buying cardano. I wish i would have waited a little bit to put fiat into crypto markets. Most recently right, i would say probably as cardano was consolidating in this general area on chain metrics for bitcoin, looking so solid and so bullish. I probably was buying a little heavier than i should have. I still have fiat available, but now its kind of like all right dont, do that same thing again right here. If there is a potential for downside, so for me its just kind of like easing into it right – and this is just this – is us – this is all of us – everybody trying to find the best approach to accumulation. Some people just have a set it and forget it. You know automatic, buys dollar cost averaging. I like to utilize the charts in a way where im kind of averaging in and and utilizing the road map that is before us on these charts and thats kind of my approach. I cant tell you how much im buying when im buying but thats been my approach. Looking back, though i do wish, i would have went a little bit lighter with my buys in in that general facility. Like the 80 cent range, we can call it, but, needless to say, the opportunity here in the long term for for cardano is there.
I see it its, not financial advice at all, any everybody. You know you have to really sit back and and plan yourself how you want to go about these markets, its so risky. We see that we see what just happened with luna um. This altcoin ada is down over 80. That just shows you how risky and the thing is. We knew all along that that was possible right, so um thats. The purpose of this youtube channel is to prepare for these scenarios, but its also to prepare for the bullish scenarios as well and on the long term zoomed out chart. I see so much bullish potential for cardano dont forget the vassal hard fork in play. End of june, what will that do right will will cordano find technical support on these charts because of vassal hard fork get a bounce to the upside time will tell well continue tracking it in the immediate short term. I want to track the 50 cents, see the structure that forms now that weve hit the target that weve been talking about for months all year, long talking about the potential downside to 50 cents and its here, and so i really am curious to track to see What cardano does and how it interacts with that area finally, and and were gon na, were gon na do that, if anything crazy happens tonight i told my wife. I have a feeling somethings gon na crazy happen tonight, on the charts ill, probably do a live stream or something so keep your eyes out for that if it happens, but this is what im tracking on the immediate short term and then just shifting over here to Carter shift whos sponsoring this video and im im so proud to have all the sponsors of crypto capital venture, because theyre just theyre awesome teams and theyre awesome teams that are building awesome products and implementing awesome ideas and, in this case, carter shift.
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It is awesome, so go follow them. Thank you again to carter shift for sponsoring this video. I really appreciate it.