ADA BTC - Falling Wedge - TP 0.3410 btc

Dear community,

Looking at ADA Future contract (Bitmex), we can identify a falling wedge in play.

Based on Bulkowski's perfect trades, breakout "can be in any direction but is upward 68% of the time."
On top of that, risk/reward ratio is attractive with a value of 5.48.

Stop loss --> 0.2410

TP 1 --> 0.2860
TP 2 --> 0.3118
TP 3 --> 0.3410

Of course this forecast is not a financial advice, study, exercise yourself, put into question your reasoning.
Well, strive to be a better trader tomorrow than we are today.

All the Best from the Crypto Space
Alteroc



AI Trader assistant, includes Bitmex (15% discount) --> app.aitrader.ai/referral/ap3m9
twitter.com/alteroc_trading

Comment:

Falling wedge is still in play.

Comment:

We had an upward breakout as forecasted on the initial analysis.
Now ADAM18 is in a pennant which is usually a continuation pattern, in our case we can expect a move upward.

A retest of long term support is not to exclude better a test up to the 0.618 level.

Comment:

As always alts are dependent from BTC.
If BTC decides to test it's $6,100 low or lower. ADA will follow for a double bottom before resuming the uptrend.

That's why we are currently monitoring BTC to find the best entries for alt coins.