ADABTC Ready to Pop

Whats Up Guys,

Trying to spread my analysis out onto a few different coins as it has Been a slow few days for Litecoin and Bitcoin... they both seem to be coiling up.

Cardano has been no different following a bullish Falling Wedge Pattern - Hopefully it will go as we're expecting - consolidating for the pop.

Wait for your confirmations guys, what were looking for is a bar close (at least a 15 min but longer timeframe better) above! the upper purple line of the falling wedge.

LEGEND
Purple Lines - Speculative Falling Wedge Lines
White Line - Previous Support Resistance

CHART ITEMS
Target Area indicated
Stoch RSI analyzed - Appears ready for a reversal.

Good Luck and see you on the trading floors.

As always, intelligent disagreement is welcomed!

-Nix
www.bitmex.com/register/2Zkkvg

Comment:

Still Looking OK for a bull run - Obviously an unexpected drop has occurred - but that's why we wait for confirmations -

There have been a lot of traps out there lately. Lets see what this turns out to be.

A dump or a bear trap?

Comment:

We broke the upper line of the Falling Wedge - Made some profits and still looking good for a further run.

Im Long on ADA - will update when Im out.

Comment:

I close my position and took a little profit - Although - I think the target (4600) is still a very real possibility.

I am waiting for a 15min bar close above 3950 to reopen my long - there is some previous resistance at this current level and I just dont want to get stuck or wind up giving the profit back.

If we clear the 3950, the short term target is 4075, until we may encounter some more previous resistance. Hopefully we will just blow right through 4075 and head up towards the target of 4600+

Comment:

We made another push closer to the target - Im still long - I think were entering a temporary resistance level here, hopefully we plow right through.

Trade active:

Im long on ADA again -

ADABTC - 10x Long
10% capital staked
SL 3520
TP 5150

(make sure to adjust values for futures contracts, ,if you're trading on BitMex, BitFinex)

Trade closed manually:

Took some profits - going to bed - and not too sure about this one to keep it open over night - only reason.

If you decide to stay in it - recommend you adjust your stop losses to claim some profit, or at least, remove some risk.

I still feel bullish on this, but just minimizing my risk areas.

Good Luck All and see you on the trading floors.

www.bitmex.com/register/2Zkkvg