SpartaBTC

ADA (Cardano) Breakdown of the accumulation channel.Pivot points

BINANCE:ADABTC   Cardano / Bitcoin
The ADA project is very strong fundamentally with a good team.
There is a breakdown of the accumulation channel in increments of 32%
if the price consolidates above the channel resistance line, then the potential for the first price increase is the width of the previous channel. + 32%
In mid-February, big news is expected. Perhaps there will be not only a reversal of the local trend, but the main one.

This is the second breakdown of the channel in the last couple of months, the last was false. Therefore, pay attention to the local uptrend so that the situation does not happen again as last time. After the breakdown of the channel resistance, the price could not fix above and thereby form a false breakdown. The price turned around and, as I described in the previous trading idea, this coin dropped to the bottom of the channel.
From the middle of the channel, the price reached the bottom of the channel with a pin bar (squeeze). This was necessary for the chart and for the upward movement that is happening now. From the bottom of the channel, the price again rose by 32% to the resistance of the channel and pierced it on the buyer's volume now.
Perhaps we are witnessing the emergence of a new uptrend. If the price consolidates above the previous accumulation channel, we will see a reversal of the main trend.
Comment: The price is moving in a local uptrend, since the breakdown it is already + 15% profit
Trade closed: target reached: + 27% Note how the price hit precisely with sniper accuracy at level 690
Trade active: Now the price is at the important zone of the mirror level which, from the development of the situation, can act as support or resistance. Channel pitch 30%. You can work in two directions.
More details on training / trading ideas.
Comment: The mirror level retest has been confirmed.
Secondary uptrend continues.
Trade closed: target reached: +107%

Comments

clean update thank you
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SpartaBTC ProjectSyndicate
@ProjectSyndicate, Yes, the price holds. I think the upward movement will continue.
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