Cardano Dan's Newsletter - Issue #43

Information Overload

Quote of the Day

“There are many things of which a wise man might wish to be ignorant.”

― Ralph Waldo Emerson

We suffer from information overload in today’s world. We’re bombarded with stimulus from every different direction.

People get addicted to this stimulus. Most often today, it’s seen in the form of cell phone addiction. People are addicted to the stimulus coming from their phones and literally ignore others around them as a result. Check out this great photography series about this that really drives the point home.

Our phones are designed to demand our attention. Every single app wants you to turn on notifications so that it can constantly draw you back into that business’s ecosystem and payment stream.

But let’s say that even you’re not addicted to your phone. You’ve turned notifications off, you’re focused on the right thing, you’re disciplined about how you’re spending your time and consuming information… there’s still too much information to sort through.

There’s a LOT of noise. “There are many things of which a wise man might wish to be ignorant,” so to speak.

Cardano’s progress and pace of development and the activity in the ecosystem have reached the point where there’s a lot of noise. I want to help you filter through that noise with my newsletter. Help you be informed about the important stuff and ignore the things you might wish to be ignorant about.

In The News

1. Elon Musk’s SNL appearance fell flat and the price of Dogecoin dropped dramatically as a result. Elon came to the rescue again less than 24 hours later by announcing that SpaceX will launch a DOGE-1 mission to the moon.

   I’ve made no secret about my concern for newbs and uninformed people investing in Dogecoin. It’s a meme coin without a maximum supply being pumped by a charismatic personality. Please be careful.

2. A fuel pipeline on the east coast of the US has been shutdown following a cyber attack. It’s unclear how long it will remain shutdown. The situation is worth keeping an eye on. Here’s what is known so far.

Cardano Updates

1. Sticking with the theme of the newsletter, IOHK recently released an “Essential Cardano list” meant to help the Cardano community navigate the growing Cardano ecosystem in an easier and more friendly way.

   I highly recommend taking some time to peruse this excellent new resource. High signal, low noise.

2. I launched the sale of my “Moon Man Black & White Collection” of NFTs! We built a NFT distribution system that mints and returns a NFT within seconds or minutes of sending your ADA!

   Each Moon Man NFT is only 12 ADA during this first sale phase making it super accessible to have your very own Moon Man. Get one right away before the sale moves to the next phase!

Technical Analysis

And now for the celebratory section of the newsletter! What a great weekend it was for Cardano ADA! Yesterday’s price action was phenomenal. It created so much excitement on Twitter and in the markets.

We are clearly now in price discovery mode. It does not mean that every day will be up or that ADA is immune to a pullback or even a correction. But I’m quite encouraged about significant upside potential.

I took another look at a trend-based fib extension and think this one is a good take on it. It measures from the start of the last move in the trend, to the end of the last move, and then the bottom of the pullback. Taking all three points, calculates extension levels.

I’ve drawn this on the chart below, zoomed out to have the full price history as perspective.

With this tool/technique, the next move targets the 1.618 or 2.618 level. That has us targeting somewhere between $3 & $5. Remember my 1st target for taking profits in this bull cycle? That’s right! Right in the middle of that range.

Things continue to go accordingly to plan for now.

What do you think? Is the market playing out the way you expect? Tell me below!

Do you know anyone that would benefit from my newsletter? Please share it with them today!

This newsletter is for entertainment and educational purposes. I’m not a financial advisor and you should do your own research and consult a financial advisor before investing in cryptocurrencies.