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Seems like nobody is paying attention to ADA (Cardano), but there is something interesting.
Cardano had a pretty decent period of consolidation in between 0.00000400 & 0.00000500. That's enough to establish the bottom, reverse the downtrend and take off.
What’s more interesting is that this consolidation does look like something very textbook. And I’ve seen it before. This type of accumulation played out insanely well on Bitcoin this winter. Here is my idea that I am referring to
Now let’s get back to ADA. The chart looks like Wyckoff Accumulation schematic #2. All key points in the phases are present and shape is right.
We did break out of the range printing a clear SOS (Signal of Strength). Moreover, we are above the 200-Day EMA, which is pretty good for the bullish case.
The bullish case is valid only until we break below EMA200 and especially 540 level.
What do you think about it? Will this Wyckoff accumulation play out on ADA? Give us your opinion in the comments!
If you like the idea, please, hit the Like button and subscribe to the profile in order not to miss our updates.
The information given is never financial advice. Always do your own research.
Seems like nobody is paying attention to ADA (Cardano), but there is something interesting.
Cardano had a pretty decent period of consolidation in between 0.00000400 & 0.00000500. That's enough to establish the bottom, reverse the downtrend and take off.
What’s more interesting is that this consolidation does look like something very textbook. And I’ve seen it before. This type of accumulation played out insanely well on Bitcoin this winter. Here is my idea that I am referring to
We did break out of the range printing a clear SOS (Signal of Strength). Moreover, we are above the 200-Day EMA, which is pretty good for the bullish case.
The bullish case is valid only until we break below EMA200 and especially 540 level.
What do you think about it? Will this Wyckoff accumulation play out on ADA? Give us your opinion in the comments!
If you like the idea, please, hit the Like button and subscribe to the profile in order not to miss our updates.
The information given is never financial advice. Always do your own research.
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