Welcome Friends of crypto doing some charting on good ol ADA this evening. I did this on a 1 day chart because its going to be a longer hold as its not a coin with a ton of volume right now but as you can see we do have some hope for it yet. Ill keep this one short and sweet as I think I pinpointed everything necessary in the chart with either text or circled in red.
The RSI looks to be crossing over the midpoint line which more times then not means the bears are getting tired they're ready to sleep friends! Just like back in Novemeber (I have it circled in the red on the RSI Indicator) The Bulls are waking up and ready to run! so get your red capes ready. Everything seems to be following the trend line heading directly into a bullish wedge consolidating with the Bollinger Bands but on the upper half of the basis line which is another good indication is will rise instead of fall.
I have marked the Fib Scale based on the most recent Bullish run which looks to me to be back in early January -_- as depressing as that is it shouldn't last much longer. I have marked the targets on the chart as such
Target 1: 2620-2830
Target 2: 3515-3866
Target 3: 4680-4977
Targets 4 and 5 are a ways away and I will update accordingly depending on how the first 3 targets go.
Stop Loss is 1670-1850 (possibly a little higher if your uncomfortable with how low my stop loss high is. I am personally in for the long run so stop loss for me is a bit more.
Anyways if you like this shoot me a like/follow as ill be updating this and as I always say this is not financial advice and I am not telling you to buy or sell at these points or even at all. Please do your own research and trade responsibly (no drunk trading leads to loss of money) hahaha
-CryptoLeroyJ out!
The RSI looks to be crossing over the midpoint line which more times then not means the bears are getting tired they're ready to sleep friends! Just like back in Novemeber (I have it circled in the red on the RSI Indicator) The Bulls are waking up and ready to run! so get your red capes ready. Everything seems to be following the trend line heading directly into a bullish wedge consolidating with the Bollinger Bands but on the upper half of the basis line which is another good indication is will rise instead of fall.
I have marked the Fib Scale based on the most recent Bullish run which looks to me to be back in early January -_- as depressing as that is it shouldn't last much longer. I have marked the targets on the chart as such
Target 1: 2620-2830
Target 2: 3515-3866
Target 3: 4680-4977
Targets 4 and 5 are a ways away and I will update accordingly depending on how the first 3 targets go.
Stop Loss is 1670-1850 (possibly a little higher if your uncomfortable with how low my stop loss high is. I am personally in for the long run so stop loss for me is a bit more.
Anyways if you like this shoot me a like/follow as ill be updating this and as I always say this is not financial advice and I am not telling you to buy or sell at these points or even at all. Please do your own research and trade responsibly (no drunk trading leads to loss of money) hahaha
-CryptoLeroyJ out!
Comment:
Wow didn't realize how zoomed out this was.... Will update with closer screenshots in a bit sorry everyone.
Comment:
As Promised closer charts again sorry about the original zoomed out post
4hr Chart
4hr Chart
Trade active:
Everything is looking to go according to plan for each target. Keep a level head take profits when necessary and most of all don't let greed overtake rewards. Target 2 is looking to come soon.
Trade active:
Target 2 had been hit and seems to have now turned into support. Hope everyone has enjoyed the profits thus far. Target 3 hopefully to come soon.
Comment:
Target 3 updated so please read!
I apologize for the double update in such a short time span but I forgot to update with further targets incase those that are holding or want more from their trades. I take profits where I feel its comfortable and obviously the higher we go the more risky it is as we don't know how long alt season has left and when bitcoin season will begin. BUT without further ado I have Target 4 and Target 5 with an updated chart Target 3 had been updated as well
Target 3 Updated: 5228-5427 (updated due to recently learning about the ichi cloud)
Target 4: 6029 - 6312
Target 5: 7357 - 7574 (Riskiest trade as it would have to hit around the ath numbers again in order to reach this)
Personally I don't think many alts are ready for a new all time high yet, although I do think it will happen later this year.
Target 3 Updated: 5228-5427 (updated due to recently learning about the ichi cloud)
Target 4: 6029 - 6312
Target 5: 7357 - 7574 (Riskiest trade as it would have to hit around the ath numbers again in order to reach this)
Personally I don't think many alts are ready for a new all time high yet, although I do think it will happen later this year.