ADAUSD has been consolidating for more than 1 month (since September 20) within the 1D MA50 (blue trend-line) and the 1D MA200 (orange trend-line). This consolidation happens to be inside a Triangle that shares many characteristics with the May - July 2021 Triangle.
As you see the May - July fractal also traded for a similar period with the 1D MA50 and 1D MA200 and when the price broke above the 1D MA50, Cardano started its strong August rally. It's worth pointing out that on that fractal, the price marginally broke below the 1D MA200 for 3 days before breaking above the 1D MA50. However the RSI has already double bottomed. In July the (near) RSI Double Bottom happened to be on the 1D MA200 (marginal) break-out low.
Do you think that ADA has bottomed already and will soon start the rally above the 1D MA50 or there is one last low left to be made below the 1D MA200? Feel free to share your work and let me know in the comments section!
It looks like its coming down to a death cross. But I'm no chart professor lol. I sold 75% when it tanked, been buying dips. I honestly can't tell where btc and alt coins are going right now. I was about to let my emotions get me when I saw 50k btc but I held luckily. But its looking like that Time of year to dump and start over.(I usually only dump maybe 80-90%, keep a little just In case. And hopefully they don't throw a tax bill on me cause I've been holding these since 2019
sascanio
⋅
On the breakout of the first triangle, I prefer the trigger to buy on August 3rd (also above the MA50, confirmed) instead of the end of July ! Lets see if this triangle plays a similar move... fingers crossed for more upside to come !!!
The_Profit_Prophet
⋅
@sascanio, you are doing things right. 26 July is a test of the MA. 03 Aug is the break out.
sascanio
⋅
@The_Profit_Prophet, Nice !!! Lets see what the market does... bring it on !
jamoooo
⋅
Thanks for sharing!
sami_belhi
⋅
ada going bad this year ... not confident about a rally
Matthewsan
⋅
@sami_belhi huh? It went from a 1$ to 3$ 60-90 days ago
Jabbe
⋅
looking for one more bounce off of support, then I think we're ready to go. Thank you for sharing.