I made an extremely calculated decision to buy the Cardano cryptocurrency, and using my steps, I will show you how to make similar purchases in any altcoin asset!
First things first -- I got to throw away all the charting bullcrap that Steemit has been stuffed with lately. They're fine and all, but at the end of the day, you're just listening to some guy telling you the price is going to go up in a bull market!
Where's the science in that?
I prefer some empirical analysis, so let's get to it!
Cardano (ADA) cryptocurrency Price Sentiment Analysis
Let's pull up a price sentiment analysis scatter-plot of the Cardano cryptocurrency:
This analysis measures the scope of trading activity (y-axis) against the price point (x-axis). As you will see, this is a far superior analysis in identifying actual support and resistance areas.
Currently, we are just under the 40-cent mark, identified by the light-blue highlight. Where I think we will move is towards the green area, between 40 cents and $1.00.
Tremendous Foundational Trading
Why am I so confident that Cardano will jump into the "green zone?"
Look at the condensed trading activity across the entire price and magnitude spectrum. Clearly, both bulls and bears love negotiating with each other at this level.
Since we're just below the green zone, the next logical step is to jump into this area of strong foundational trading.
It's market physics, baby!
