ADA/BTC is showing some signs of upward momentum. So long as Bitcoin can hold steady, we could see a 5-15% move in ADA over the next few days.
On the 4-hour indicators, we got a MACD bullish crossover on October 13th, and our Squeeze Momentum indicator is showing upward movement. RSI is sitting at 36, which is close to oversold, (oversold begins at 30) so we could see it move up quite a bit if the momentum continues to the upside. Good Risk/Reward on this one. ADA/BTC hit it's new-found bottom around 970 sat's back in September, and we got a bounce off our 1110 support zone (which was previously the spring-board for ADA's bounce to 1390 sat's back in September.) I would look for a 5-8% move before taking profits, or have a trailing stop-loss in place.
Entry: 1150-1160.
Target: 1200-1300 (depending on how you want to play the trade.)
Stop loss: 1090-1100.
--This is not professional financial advice, Always do your own research and come to your own conclusions before investing. Cryptocurrencies carry high risk and are prone to high volatility.
On the 4-hour indicators, we got a MACD bullish crossover on October 13th, and our Squeeze Momentum indicator is showing upward movement. RSI is sitting at 36, which is close to oversold, (oversold begins at 30) so we could see it move up quite a bit if the momentum continues to the upside. Good Risk/Reward on this one. ADA/BTC hit it's new-found bottom around 970 sat's back in September, and we got a bounce off our 1110 support zone (which was previously the spring-board for ADA's bounce to 1390 sat's back in September.) I would look for a 5-8% move before taking profits, or have a trailing stop-loss in place.
Entry: 1150-1160.
Target: 1200-1300 (depending on how you want to play the trade.)
Stop loss: 1090-1100.
--This is not professional financial advice, Always do your own research and come to your own conclusions before investing. Cryptocurrencies carry high risk and are prone to high volatility.
Comment:
USDT and Bitcoin fiesta sent ADA back down to it's support zone around 1095-1115. I made a new chart for ADA which is showing bullish divergence on both the RSI and on the CMF, feel free to check it out if interested.