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
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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
I have a BUY order in at $1.90. I'm probably going to put in another at around @2.25. I made 12% on the last uptick. Not too shabby but not stellar but hey, profit is profit. I tend to day trade and snipe but ADA has been a good friend for a few years. I have held ADA longer than most (sold and re-bought multiple times as I believe in it's future) and I'm expecting great things before too awfully long. Not looking through rose-colored, stained glass goggles but do have high hopes for it with Charles Hoskinson at the helm.
Best wishes to all my fellow traders! Stay in the green.
peterbhc
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One of my favorite patterns, the falling wedge. GO ADA
Best wishes to all my fellow traders! Stay in the green.