So should you buy Cardano ADA ahead of smart contract release on September 12th, or is the price surge over and it’s time to sell? Let’s find out together! The Ethereum killers are making a killing. Solana has sailed up, if you saw my videos
on that. I’ve made multiple videos on how Binance
Smart Chain really challenged Ethereum. And now there’s a new king in town.
ADA Cardano has again overtaken BNB in the
#3 position. So what to do from here? What is striking with Cardano is that price
changes slower than all the other projects in crypto. ALL the other coins are best analyzed with
Larsson Line set to the daily timeframes, to best catch the turn of trends. But for Cardano, that doesn’t give us anything. There are too many flippity-flops here. For Cardano we need to set the timeframe to
weekly candles. It’s really been a different culture. They’ve kept tweaking, kept fine tuning
for years. The ebbs and flows have been best measured
in weeks instead of days, and in years instead of months. They still don’t have smart contracts after
4 years, but now they have set a release date to 12th of September
for smart contracts. This year. But let’s not get ahead of ourselves, let’s
first recap the charts. Both the ADA/BTC and the ADA/USD charts have
formed powerful multi-year Inverse Head & Shoulder [bottom] patterns – shoulder, head, shoulder – shoulder, head, shoulder which also aligned well with the gold flip
of Larsson Line on the weekly timeframes, on both charts, as you can see here.
Another way to look at the bottoming formation
is this even simpler view. You can see here that a strong support built
through 2017, 2018, 2019, 2020 at around $0.025. And from there, we ran up to where we are
now. Let’s still zoom in to the daily and see
how it looks. So it still looks good. The 2021 high broke here yesterday. Larsson Line is gold even on the daily. So basically all aligns here for a great momentum. But I see one issue. And that is “Buy the rumor sell the news”. What that means is that the expectations can
be higher than reality. People have waited for like 4 years for this. Now it’s happening, hopefully. Will it change the world? Maybe it will, maybe not, but what we know
for sure is that the cold hard reality is often less ideal than our dreams.
Cardano’s programming language is built
on Haskell, which is a functional programming language. These types of languages do have benefits. As many of you know, I worked for Ericsson
for many years. Maybe fewer of you know that the programming
language Erlang, which stands for ERicsson LANGuage was used to build WhatsApp by those
guys, not Ericsson. Erlang was open sourced, before the term open
source was cool. And it was thanks to that language and the
functional programming paradigm – which suits telecom very well – that’s how they could
build a service that served 1 billion people, that’s like 12% of the world population
on 50 employees. The whole company WhatsApp at that time was 50 employees. Functional programming languages do have a
point. I know how to program Erlang. I also learned to program Lisp back in 1992
to make scripts on Emacs, the world’s best text editor. And let me tell you, it’s a pain. You will hate it. There are benefits, because many common bugs
in object oriented programming languages are completely avoided with functional programming,
and especially for smart contracts, I do think that those benefits can really shine, just
like they did with telecom.
But it’s difficult, and painful and you
will pull out your hair trying to debug your code, if you have any hair, unlike me because I pulled mine out already. So the risk we’re facing here is this: The bottom was formed here right, at $0.025. Now we are at $2.5. That’s 100x up already. So you’re kind-of late by 100x. That’s a lot and that’s a risk once the
actual delivery comes, if it doesn’t immediately change the world because now people have waited for 4 years
and expectations are up here. Then *even* if it’s great, if it doesn’t
*also* make your teeth whiter while you sleep, some people will be still be disappointed. Having said that, it’s still 4 weeks left
for 12 of September, so we can still dream until then, and this coin might well run further
on this anticipation alone, irrespective of what happens after that. But, do use stop loss. If you have gains, do protect them. There is a beautiful support area here, so
do use it, meaning if it breaks, protect your capital.
My uncle doesn’t run the market. I don’t know you specific situation and
I have no idea what this chart will do tomorrow. This is education, not specific financial
advice for you. These are timeless technical analysis principles. Get you Larsson Line access on ctolarsson.com Please like this video if you liked it and see you in this next video. Thank you tack, CTO Larsson out, hej då!.