ADA/BTC update:
The price has reached resistance zone and this is decision point which direction it will go. The past performance shows that this has been very attractive level for selling. Daily candle closing above of 0.786 would indicate that bulls are in control and break out upwards can be confirmed with expanded volume. Without volume it's more likely to fail than succeed.
Moving Averages are crossing which is signaling that the price wants to push higher.
Steadily increasing buying volume is indicating that if it's going to have retrace it's more likely going to be shallow.
Conclusion:
The daily candlestick is showing indecision with small body inside of the resistance zone and it's better to wait for confirmed signals such as increased volume and close above of 0.786 fib level for example.
Buying at these heights is risky as seen in the past performance as it has been very attractive zone for selling. Taking partial profit here is likely better option and adding more to my position if it retraces down.
Please, if any question comes to your mind don’t hesitate to ask! I try my best to respond ASAP!
If you need help with trading, finding information or courses let me know and I’d be more than happy to help you!
Things to Remember:
DISCLAIMER:
Please be aware this is not financial advice. You are responsible for your trading and investing decisions. It is highly recommended to do your own research before investing in anything.
Yarr
The price has reached resistance zone and this is decision point which direction it will go. The past performance shows that this has been very attractive level for selling. Daily candle closing above of 0.786 would indicate that bulls are in control and break out upwards can be confirmed with expanded volume. Without volume it's more likely to fail than succeed.
Moving Averages are crossing which is signaling that the price wants to push higher.
Steadily increasing buying volume is indicating that if it's going to have retrace it's more likely going to be shallow.
Conclusion:
The daily candlestick is showing indecision with small body inside of the resistance zone and it's better to wait for confirmed signals such as increased volume and close above of 0.786 fib level for example.
Buying at these heights is risky as seen in the past performance as it has been very attractive zone for selling. Taking partial profit here is likely better option and adding more to my position if it retraces down.
Please, if any question comes to your mind don’t hesitate to ask! I try my best to respond ASAP!
If you need help with trading, finding information or courses let me know and I’d be more than happy to help you!
Things to Remember:
- Stop-loss orders are strongly recommended.
- Beware of buying tops or FOMOS, you might end up losing or waiting long periods of time before getting anything back.
- Do your homework before investing.
DISCLAIMER:
Please be aware this is not financial advice. You are responsible for your trading and investing decisions. It is highly recommended to do your own research before investing in anything.
Yarr
Comment:
When the price is breaking through of downtrend line it's usually the first signal of reversal. Second signal we will get when it breaks below of EMA50 line which is red colored one.
Comment:
ada had recently nice bounce after coinbase news came out
