BINANCE:ADAUSD   Cardano / US Dollar (calculated by TradingView)
ADA' has made a big rally past month and since Dec 2018. Volume has been very good as well. But now it has reached a long term resistance together with this possible wedge .


The volume picture of the wedge is okay but not great. Also the rally in the yellow zone was quite strong and not very typical for a wedge , but still does fit the picture. Knowing that if Bitcoin' breaks up above 4000/4200, this wedge will obviously not play out. So for this wedge to succeed Bitcoin's has to drop some again.

Anyway, i am going to watch how this last wave plays out the coming days before i do anything. Ideally we see a breakup like the blue line, but only getting a small push above that resistance, seeing a small pullback and bounce again. Like the blue line shows, which means we should see volume dry up and resistance at that high. If we see that happen and a break of the wedge , it will very likely play out. Shorting now is not yet something i am willing to do, because i am still not sure what Bitcoin' will do, since it is still at a very dangerous spot.


Previous analysis:
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update please?
+6 Reply
For those of us who are not day trading, ADA is a clear long term buy, accumulate on retracements.
Staking is a big factor here.
+7 Reply
Multiple bearish DIV fits the plan
+1 Reply
Thank you botje:)
+1 Reply
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