Cardano Dan's Newsletter - Issue #66
Enemies & Change
Quote of the Day
“If you want to make enemies, try to change something.”
— Woodrow Wilson
Sometimes, it doesn’t matter how much you love someone. It doesn’t matter how well you communicate and/or show that love.
If you are trying to change something important, it doesn’t matter what it is, you will develop enemies along the way. Some people just don’t like change and other people won’t like the change you want to make.
But what is life without making a meaningful impact and changing the world for the better? If you want to do that, you best be prepared for some enemies, because there is no way around that.
Key Takeaways from the Past Week
Monday - Do & Dare
On Monday, we started out the week reflecting on the truth that in order to go far in life, you need to risk something.
Wednesday - Think Ahead
Mid-week, we considered that sometimes in life, we’ve forced to understand something; but, it’s much better to think ahead and understand things in advance.
Friday - Find Time for Love
On Friday, we touched on the importance of finding time for love and I shared my favorite quote and overall takeaway from Charles’s interview with Lex Fridman.
Technical Analysis
Weekly updates are all about zooming out. The entirety of the current bull run for ADA is shown below.
This week, I’ve added a channel to the chart for the current bull run. The centerline of the channel has served as an interesting trendline during this bull run and it could serve as important support again.
Also noteworthy is that we’re approaching oversold conditions on the daily timeframe.
I see absolutely NO REASON to try and time short-term moves in this market. If you believe we’re still in the bull market, makes sense to remain invested and that’s where I stand right now.
If you think we’ve entered a bear market, you probably are already out of your positions.
Looking at the crypto majors performance since March 2020 lows…
Nothing new here, Cardano ADA remains in a league of its own.
Finally we look at our Bitcoin and Ethereum comparisons using market cap ratios.
Nothing new here again this week as Cardano, Bitcoin, and Ethereum all followed each other pretty closely this week.
I continue to expect Bitcoin to be the “all clear” signal for all of crypto to resume its bull run. I expect Bitcoin to move first and everything else to follow. Could be this week or could take 4-6 weeks, but I expected it to happen this summer.
That’s it for the weekly recap. Hope you all have a great rest of your weekend!
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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