ADA has been crazy the last couple months! Back in March it completed an absolutely beautiful inverse head and shoulders that took months to form. That bottom pattern then launched us over 40% up on the BTC pair and even more on the USD.
Since that recent top of about 1900 sats, Bitcoin has completely stolen the show, causing ADABTC to plummet over 50% without any significant bounce.
Now 50% down from the recent top, ADA sits just above the .886 and a major long term trendline. Which of so far, has provided significant support.
If this level holds, I expect us to retest 1200-300 sats, and if that breaks, I believe that 2000+ sats is possible in the coming months.
My reasoning for this crazy price target is that ADA has already formed a long term bottom pattern on both the USD and BTC pair. Yes, ADABTC looks a little rough since the recent top, however both have maintained a higher low since the pattern completion.
My first target 1200-300 sats comes from a fractal from last year. After ADABTC tested the 886, it rocketed 33% to retest an old TL. Which would be the same case here.
My second target of 2200 sats comes from a combination of the 886 level, long term trendline AND the fact that a bottom has already formed.
The key here would be to maintain the HL.
My plan:
I have already entered a reasonable size long from 1000 sats on futures.
However I would like to see some sort of bottom pattern form on the daily before I take a significant position.
For you riskier traders out there this chart may be the exact thing you're looking for.
However the primarily reason for posting this is to get it all on your watch lists as there is some serious potential from here.
note: I made the previous bottom call on my twitter feed which I currently have pinned at the top. I know I took a very long break from TV but I am back and am being as active as I can :)
Hope you all enjoy!
DISCLAIMER:
Please note I am only providing my own trading information for your benefit and insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal.
Since that recent top of about 1900 sats, Bitcoin has completely stolen the show, causing ADABTC to plummet over 50% without any significant bounce.
Now 50% down from the recent top, ADA sits just above the .886 and a major long term trendline. Which of so far, has provided significant support.
If this level holds, I expect us to retest 1200-300 sats, and if that breaks, I believe that 2000+ sats is possible in the coming months.
My reasoning for this crazy price target is that ADA has already formed a long term bottom pattern on both the USD and BTC pair. Yes, ADABTC looks a little rough since the recent top, however both have maintained a higher low since the pattern completion.
My first target 1200-300 sats comes from a fractal from last year. After ADABTC tested the 886, it rocketed 33% to retest an old TL. Which would be the same case here.
My second target of 2200 sats comes from a combination of the 886 level, long term trendline AND the fact that a bottom has already formed.
The key here would be to maintain the HL.
My plan:
I have already entered a reasonable size long from 1000 sats on futures.
However I would like to see some sort of bottom pattern form on the daily before I take a significant position.
For you riskier traders out there this chart may be the exact thing you're looking for.
However the primarily reason for posting this is to get it all on your watch lists as there is some serious potential from here.
note: I made the previous bottom call on my twitter feed which I currently have pinned at the top. I know I took a very long break from TV but I am back and am being as active as I can :)
Hope you all enjoy!
DISCLAIMER:
Please note I am only providing my own trading information for your benefit and insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal.
Creator of DepthHouse Indicators on TradingView!
↣ depthhouse.com/
↣ depthhouse.com/
