ADA - very quick update

Very quick and dirty ADA 1hr chart update:

On the 1hr chart, ADA is in a potential Falling Wedge Pattern. A Falling Wedge Pattern in an uptrend is a potential Bullish Continuation Pattern. Obviously this is all dependant on what BTC does tonight. ADA has found some resistance at its Bollinger Bands Middle Band Basis 20 Period SMA on this 1hr timeframe. Note that the price is above its Least Squares Moving Average (LSMA) which is a buy signal on this 1hr timeframe. A close above the Bollinger Bands Middle Band Basis 20 Period SMA and the Volume Profile Fixed Range Point of control (VPFR POC) will be a very good sign of continued renewed upwards momentum.

I hope this quick and dirty update is helpful with your trading and hodl-ing.


Black Squiggly Line = LSMA
Grey Bands = Bollinger Bands
Short Horizontal Red Line = VPFR POC
Long Horizontal Red Line = VPVR POC
Dashed Line = Upwards Support Line
The 2 Descending trend-lines = Falling Wedge

Comment:

ADA is back above its 200EMA and its Bollinger Bands Middle Bands Basis. Be on the look out for a candle close ABOVE the 50EMA and also the MACD Line crossing back ABOVE the 0.0 level into the positive zone. Also be on a lookout for a candle close above the top descending trend-line and successful re-test of that level as support.

Indicator at bottom of page = MACD
Black Squiggly Line = LSMA
Grey Bands = Bollinger Bands
Short Horizontal Red Line = VPFR POC
Long Horizontal Red Line = VPVR POC
Dashed Line = Upwards Support Line
The 2 Descending trend-lines = Falling Wedge
Yellow Line = 50EMA
Red Line = 200EMA