CARDANO broke above 1.50 ... WHAT NEXT?
ADA is overall bullish trading inside our red channel so we will be looking for Trend-Following Buy setups as it approaches the lower red trendline.
Moreover, the area 1.450-1.50 is a "Resistance turned into Support".
So the highlighted purple circle with the blue arrow is a very strong area to look for buy setups as it is the intersection of support in blue and lower red trendline.
As per my trading style:
I will be waiting for it to approach the highlighted purple circle (area) to look for possible buy setups (like a double bottom, trendline break , and so on...)
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
ADA is overall bullish trading inside our red channel so we will be looking for Trend-Following Buy setups as it approaches the lower red trendline.
Moreover, the area 1.450-1.50 is a "Resistance turned into Support".
So the highlighted purple circle with the blue arrow is a very strong area to look for buy setups as it is the intersection of support in blue and lower red trendline.
As per my trading style:
I will be waiting for it to approach the highlighted purple circle (area) to look for possible buy setups (like a double bottom, trendline break , and so on...)
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
This analysis is done using RichTL
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www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Support Bright Ideas Through Decentralised Crowdfunding
ideaology.io
Buy CRGPT on Uniswap
cutt.ly/CRGPT