Hello, and welcome to another video about cardano. In this video, we take a look at the latest price action because I know something happened, you know, we had a look yesterday evening and the price dropped to 195.
And then actually overnight, at least in the UK, it dropped, I think up to down to 180 or something. So we’re going to take a closer look at the chart, and to a technical analysis, take a look at the indicators and the oscillators.
And also we’re taking a look at the Bitcoin chart quickly beforehand, because we had some developments there as well. And as you know, the bitcoin price sort of impacts the cardano price as well. But I said yesterday, don’t panic.
And I don’t think this will be a new bear market or something. This is just a small correction, that’s perfectly normal in the cardano in the bitcoin price. world, you know, we in the crypto world, it is volatile, many people who are now entering the crypto world might not understand this might not have had experienced this, you know, had a few comments about people have bought at the near all time high.
Now. They are worrying, that’s why I do these videos as well. I mean, I can’t I can’t advise you if you if you should sell or hold.
For me I don’t I never want to sell when I’m in the negative, you know, I’ve made mistakes many years in the past as well I bought at all time highs and then sold lower. And I was so annoyed when the price then went back up.
What I need to tell you, if you if you invest and let’s let’s put out, you know, help me, always when I invest, I try to understand the project, you know, you know, I want to know what’s going on, I want to really understand the project.
And if I do that, and I’m convinced that I can invest, then I will invest. And I’m not worried if prices drop like that. Because then I am more convinced about the project, I basically know that the prices will go up. But that’s also why I invest only what I can afford to lose.
So if price drops like that happen, I always use it to buy more because I’m a long term holder. I’m hodler. And I accumulate more every week pretty much of ADA, I started bi weekly and not monthly, because prices are very volatile. So I want to profit from short term price moves as well.
That’s why I buy weekly, I won’t sell until you know, within the next four years, I won’t sell and I want to hold long term, I believe that is the best way to do it for me, everybody might have their own strategy. If you do short term trading, by all means you can do that, of course, but don’t be worried if prices drop.
That’s why many sort of professional traders who really are trading and by the way, when trading you need time, and many professional traders set stop losses when they buy on an exchange, they set stop losses.
So they buy it to whatever to 15 and they know there is a resistance level for example, being below $2, they might set a stop loss there, yes, they will have a loss, but the risk is then has been minimized, you know, they can manage the risk.
But you know, normally buying I will you know, when trading, buying is normally done when there is a signal, something where you can see that we have a resistance line. And that resistance line is broken, it is then tested as support, we have another green candle.
That’s normally when people are buying because that is a confirmation that a change of a trend is happening, all that important resistance level has been taken. So you know, I’m not really giving trading advice here, or investment advice anyway, I don’t want to do that.
But what I do, I never sell or at least not in the next four or five years. And who knows what so I need to I need to have a look then but I’m not going to sell when price drops like that happen. I use it as opportunity to buy more.
Let’s take a look at this because it just shows how much cryptocurrencies increased in the last 30 days in the last seven days. And it’s always important to put it into perspective. Because actually, yes, some people are a little bit panicking in the comments.
And I know that always happens, it happened to me in the past. And it’s always important to visualize that we’ve actually been been there just maybe like a week ago or something.
So even even like seven days ago, you know, even within the next in the last seven days, we made massive gains across you know, most cryptocurrencies, there are some which have consolidated now, and that’s again, totally normal.
There has been really an over extension on some of them. However, what we see in the last day, we had that correction across the crypto market, but look at what we’ve made in the last 30 days really across the cryptocurrencies.
There is really no cryptocurrency here in this list at least. That has made a loss in the last 30 days. So you know if you listen to this channel or many other crypto channels and then Listed when?
Well, when I did, and I said I bought them, you could have made you know some money that that’s what it is. And then buying when it’s already high is always difficult.
And I said before, I don’t think this will be the end of the bull market, I think this will continue. So even, you know buying it, I even bought a 210 roughly because, you know,
I buy every week, so I’m not too worried about the price. And I know many of you are not as well because you do what I do dollar cost averaging, that’s what many people do. And over the years it has provided me it has really been a really good