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ADA heading to supply zone, possible 100%+ upside if holding

Long
BINANCE:ADABTC   Cardano / Bitcoin
Goooood evening fellow traders!

Came across this setup on ADA and figured it would be interesting for you guys to see this.

ADA is currently trading rangebound, and not within some kind of TA pattern. ADA recently plotted a lower high (failed to gain a level) which is usually accompanied by a lower low before retesting. The green zone is my intended buy zone for spot and leverage, with my spot SL below the red line.

Targets is marked in orange and is based upon daily and weekly levels in combination with a (hidden) fib extension from the bottom. This is a fairly low risk trade with your SL being about 5% below the entry zone. As always I will keep updating the chart in case the sentiment change, so please be sure to leave a like to get updates.

Entry zone: 1040 to 1000sats.
SL 967sats.
Target 1: 1359sats
Target 2: 1499sats
Target 3: 1881sats

Sharing more targets if we get to that point.

See you later alligator!

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Comment: Unfortunately, ADA did not go down to the green buy zone. I already loaded up some in case we never were to hit the green zone, so I'm good for now. The bulls are trying VERY hard to break the level at 1228sats which you can see by the cluster on the chart. Also the fact that ADA never hit the green zone, is an indication of how bullish it is right now.

If it breaks, I'm expecting 1360sats to be the next target for ADA. Take care
Comment: ADA never really got into the preferred buy zone, but you should have already entered around 1100sats, and it's currently entering take profit zone 1 at about 1350sats. I expect a retrace, and how low the retrace takes us will determine how bullish ADA is on the mid-term. I will update you if we break of reject the level.
Comment: ADA hit TP2

Comments

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