ADA seems to break out from the bottom formation

BINANCE:ADAUSD   Cardano / US Dollar (calculated by TradingView)
Blue zone looks like a good entry, green zone is mid-term support. Red zone looks like a good stop for a day trade and the green for a swing trade
Comment: Volume is good, moving higher with sideways Bitcoin, big chance it will make a strong rally if bitcoin breaks the 6800, assuming the bears won't smash bitcoin down 200 points again in 10 seconds
Comment: ADA is falling behing a little bit, not a big problem but not what were used to of it. Also against a heavy resistance now, if they can break it we can see a big rally. Needs to stay Above those green levels

Comment: Small H&S in the making here, read my bitcoin analysis for more info. Gave a warning about everything, this confirms it a bit. Just be prepared

If you want to support me, my affiliates:

Bitcoin futures trading, 10% discount:
For copy trading FX at Etoro:
Public Telegram Channel
Nice call! It's going up. Thank You David...
Thanks for the updates David. Much appreciated
In our opinion only if the 0.1442 Lower High of the 1W Channel Down breaks, we can consider a sustainable uptrend. Until then ADA is on SOER mode:

+1 Reply
birchgrove InvestingScope
@InvestingScope, Rather than agree I meant to hit reply. Your jargon is very impressive but for an impressionable such as I what is SOER mode and does it have anything to do with global warming?
Thanks for analyze ADA. you are the master of the charts
Dudes, if botje says it is gonna increase then market will follow because David's general idea was bearish past 9 months. Now it is time to be bullish until the end of the year..
Difficulty is, if Bitcoin holds then the relief rally will likely not pull back to those areas, and if Bitcoin falls then alts such as ADA may 'pull back' but then continue on down to lower lows. This is not a trade I would take, but yet I've seen you take trades like this before and be successful, so I'm not saying you're wrong.

On the 4 hour RSI, ADA (and other coins) is moving up fast into the overbought territory with not much price movement. It looks like if a relief rally ensues it will be quite weak, and there is always the risk that Bitcoin will get off the choppy escalator and take the elevator down, and the bottom falls out of the alts again

Please analyze ADA/BTC, as ADA/USD is almost never going to go up if BTC drops and vice versa...
+4 Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out