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
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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 tradingview.com/chart/gOC0NfXg/
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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
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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
Please analyze ADA/BTC, as ADA/USD is almost never going to go up if BTC drops and vice versa...
InvestingScope
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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:
birchgrove
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@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?
DanZlk
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Nice call! It's going up. Thank You David...
Outkast45
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Thanks for the updates David. Much appreciated
llstylish
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Thanks for analyze ADA. you are the master of the charts
Zenter
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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..
dRends35
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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