Cardano Dan's Newsletter - Issue #87
Buy a Toaster
Quote of the Day
“If you want a guarantee, buy a toaster.”
― Clint Eastwood in The Rookie
Some things in life come with guarantees and some don’t. Are you looking for life-changing investment opportunities? They’re not going to come with a guarantee.
When you’re considering crypto investment opportunities and listening to what people have to say about them, run the opposite direction from anyone that is “guaranteeing” a certain result.
Cryptocurrencies have enormous potential reward, but that comes with enormous risk too. I personally think that some crypto projects are a pretty good risk/reward ratio. But, if you want a guarantee, buy a toaster.
In The News
The world's central bankers and politicians are stuck between a rock and a hard place of their own making. No good choices left, it is what it is.
Raoul Pal explains the madness of the markets in a must read thread.
I’ve seen multiple examples recently of people going “full-time” crypto struggling to engage the legacy financial system. Things like getting approved for a lease or a mortgage can be a challenge if you don’t have a traditional income stream. This is something to consider before making this leap yourself.
Cardano Updates
World Mobile continues making progress “Connecting the Unconnected” in Tanzania. Love the work that companies connected to Cardano are doing in Africa.
Don’t miss the July edition of Cardano 360 on Thursday, July 29th at 16:30 UTC. I’m looking forward to hearing the latest about Alonzo progress!
Technical Analysis / Price Discussion
What a move last night!
I said on Friday
Price action looks peppy to me and I’m expecting a retest of the downtrend resistance line shown (red) and perhaps even the 50 & 100D EMAs just above that level.
I’m very interested to see how ADA behaves at that level. As I shared in the last newsletter, I’m watching $1.50 as the biggest indicator that we’re ready to move higher again. If we break and hold that as support, I think it’s game on again.
This is exactly what we saw. However, not only did we test the downtrend resistance, we blew through it and the 50D EMA!
ADA now needs to reestablish the 50D EMA as support and advance above $1.50. As I indicated before, that’s the level that marks a higher high and a reversal from pullback to next wave of the bull cycle.
Things may get really fun again soon.
Were you watching last night when crypto had that nice bounce? Leave a comment and let me know.
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.