anzach77
Long

ADA Price Squeeze

BITTREX:ADABTC   Cardano / Bitcoin
Quick TA on Cardano ADABTC ,

We see a tightening of the bollinger bands as the price coils within its wedge , signalling a possible breakout. Price has shown stability from the shorter to the longer MAs (50/100/200) in the subsequent days leading up to this squeeze, indicative of a likely break to the upside. Also note, the 50MA (in green) has crossed the 200MA (in red).

Based on support/resistance levels
RR Ratio about 3:1, quite favourable

Short term target breakout levels
1129sats
1217sats

Look at longer time lines to plot this possible bullrun.
Comment:
price continues to coil within wedge, bollinger bands tightening up, moving averages are converging, are we preparing for lift off, or a breakdown to lower lows?
Trade closed: target reached
want to see this one, leave us a comment on our profile aswell :)
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