Over the last couple of weeks, I’ve been eying Bitcoin as a low-risk, high-reward play.
Today’s Chart of the Week also comes from the crypto space.
With deterioration in stock market breadth, bonds getting a bid, and advance-decline lines rolling over on both the NY stock exchange and the Nasdaq, crypto seems to have the better risk to reward.
Today, that reward is coming from Cardano (ADA).
As long as Cardano is over its 2018 highs of $1.40, we are long.
This trade has massive upside, and we believe it could more than double up, with our price target at $3.50.
So long as we are above those 2018 highs of $1.40, we are long ADA til $3.50.
Limited risk, extremely high reward. Just how we like it!
Til next week, good trading,
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