ADA has been on a long accumulation zone since Nov 2018 and it appears to be brewing up for a bullish break out of this accumulation zone. Will it break bullish or will we see a reversal from this present resistance zone at 1275?
The 50 day MA (thin red line) appears to be kissing the 200 day MA (thin orange line) if we get a golden cross, expect a very strong move out of the consolidation zone all the way to the top of the bow formation. This move is similar with what we just saw with LTC, and you don't want to miss this opportunity especially now that Bitcoin is going sideways and accumulating strongly.
Note that stochastic is up above 70% as of now, and aside the present resistance we are facing at 1275, we still have a stronger resistance at 1375.....the break out point. If we get the bullish cross (golden cross) our target is at the completion of the bow at 3900-4000 area, before a major move downwards in way of correction.
Note that BTC aggressive move on either direction may alter out profit trajectory.
The 50 day MA (thin red line) appears to be kissing the 200 day MA (thin orange line) if we get a golden cross, expect a very strong move out of the consolidation zone all the way to the top of the bow formation. This move is similar with what we just saw with LTC, and you don't want to miss this opportunity especially now that Bitcoin is going sideways and accumulating strongly.
Note that stochastic is up above 70% as of now, and aside the present resistance we are facing at 1275, we still have a stronger resistance at 1375.....the break out point. If we get the bullish cross (golden cross) our target is at the completion of the bow at 3900-4000 area, before a major move downwards in way of correction.
Note that BTC aggressive move on either direction may alter out profit trajectory.
