mafaizer

ADABTC Potential Breakout

BINANCE:ADABTC   Cardano / Bitcoin
Cardano is forming a big bull flag on the daily chart . I expected it to break out sooner but I guess Bitcoin is slowing things down. It's been holding steady support at around 5150 area for many days now, we've reached the apex of the triangle, meaning it's decision time. Indicators show that we're in the oversold zone (we've been there for several days), so in theory we do need to come back up again.

On the 4H chart we're creating a falling wedge , currently we're at a support/resistance level and it looks like ADA really needs to decide where it wants to go.

Always wait for confirmation that we have broken upwards, don't buy on impulse, especially when everyone is on edge!
Comment: Like clockwork!

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