ADA/BTC - Bottom in, but a retracement is necessary
Ada really made some nice gains. dont forget to follow me on telegram. check out the link on the chart.
we see the H&S bottom was confirmed and completed and we hit some heavy resistance. well probably cool off and move down slowly for the next 2-3 weeks I would say. maybe less.maybe more.
t also looks like wave 3 is finished out of the 5 waves so this cool down period is necessary to create a wave 4. before we go up one more time.
now the thing is this could have been a ABC bounce instead of a 1-2-3 (4 and 5 not formed yet)
the reason why i highly doubt that is the H&S break out and bottom patrern. this is a clean trend reversal imo. but if you dont think so, look out for blue wave 1. if we decline into that area before creating a wave 5 we MAY be in for a new lower low.
I doubt it but keep it in mind.
good luck and dont forget to follow me on telegram. check out the link on the chart.
we see the H&S bottom was confirmed and completed and we hit some heavy resistance. well probably cool off and move down slowly for the next 2-3 weeks I would say. maybe less.maybe more.
t also looks like wave 3 is finished out of the 5 waves so this cool down period is necessary to create a wave 4. before we go up one more time.
now the thing is this could have been a ABC bounce instead of a 1-2-3 (4 and 5 not formed yet)
the reason why i highly doubt that is the H&S break out and bottom patrern. this is a clean trend reversal imo. but if you dont think so, look out for blue wave 1. if we decline into that area before creating a wave 5 we MAY be in for a new lower low.
I doubt it but keep it in mind.
good luck and dont forget to follow me on telegram. check out the link on the chart.
Comment:
getting close to that area of a good buy zone
Comment:
looks very good right now! would be a good idea to start laddering in
