Cardano ADA, still looks like a long term Buy, Bullish Wedge

ADA still looks like the longer term bullish view is fully intact. The only doubt there is, is the sideways break out movement from that big bullish wedge. The volume during the break out is textbook, but because the market (Bitcoin) kept moving sideways and dropping again after each rally, ADA bulls have probably not been confident enough to buy it's price up.

Even though it goes against my rule for not going against the weak trend of Bitcoin, i still think it's a good coin to buy a small size when entering the blue zone and increase the position on the way. That way risking just a small amount with the potential of a good profit when it DOES go up . That green support zone seems like a very solid one so that should hold for the coming period. I would use the red zone as a stop. Below these 2 levels the risk becomes TOO high. On the lower time frame it looks like it can drop some more and looks more bearish, but the bigger picture looks much more bullish.



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Previous analysis:

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Looks like a triangle that is almost getting to it's end now. the USD chart (left) looks more bullish and the Tether chart looks like the triangle will break on the downside. So here also no clear signs

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Did a quick dump earlier today when Bitcoin crashed 40 points :) but it is slowly moving up again. Now we need to see it get above the 0.079/0.081 before getting more confident of a bullish move.

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Looks like ADA has formed a triangle now, IMO it's 50/50 to where it will break out. So keep an eye on it, could happen withing the next 24 hours.

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Triangle of ADA broke, never got above that red resistance zone and got a dump. Now it looks like a standard bear flag, but it will only get reached if Bitcoin also breaks it's bear flag on the downside.

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ADA broke the bear flag and is making it's second wave down now. Bitcoin is also dropping a bit at this moment