ADA is looking toppy at the moment. BTC dominance is at ATL at about 40%. The whole market is looking reading to go back down with BTC dominance going back up.
ADA is currently forming a bear flag on the 4 hours time frame. When BTC will break down, ADA will go down with it as will the rest of the market
Trade idea is to short ADA in the 2.7 to 2.9 range with target at around $2. Stop loss should be placed a little above the 3$ level.
The risk-reward ratio is superior to 2.
ADA is currently forming a bear flag on the 4 hours time frame. When BTC will break down, ADA will go down with it as will the rest of the market
Trade idea is to short ADA in the 2.7 to 2.9 range with target at around $2. Stop loss should be placed a little above the 3$ level.
The risk-reward ratio is superior to 2.
Trade closed: target reached:
The target was reached and the trade was successful.