ADA.USDT (Y20.P4.E4).Looking for the next long
Hi,
I thought I check with the popular ones, and like ETH and LINK, ADA is almost there for that big move.
I'm assuming its up with the slow topping off with BTC dominance at either the upper trend line or the 200 EMA (for the short term).
The indicators seem to suggest this.
As for ADA:
On the WEEKLY chart:
===================================
> We have the RSI on the Phoeix indicator cross over the 50% level, along with the grey energy.
Although it can dip back below, one can see that its slowly grinding its way up.
> Looking at the chart, we can see a the major resistance level of 0.108 with a number of touches while each pullback gives a lower high.
> The structure seems to fit the approaching trend line (new) after the top was made in August at the 0.618 level.
> The weekly stochastic and WT indicators also cross over showing upward momentum.
> We have all 4 EMA's below the current price;
Daily chart:
===================================
> We have lower highs where the fib levels were respected as per chart.
> Looks like an ascending triangle, potentially a reversal bottom pattern (likely).
I have the ABCDE elliot count for a Ascending triangle.
> Key resistance is around $0.11
> Phoeix on the daily has RSIs above the grey energy, another bullish sign
CONCLUSION:
===================================
I'm aware that BTC could find a pullback when we reach 17K but its confusing at the same time, why will the ALTS break up with this looming above it.
Hence I will not buy for the sake of buying as the daily suggests, its slow to move so we have time. I will buy up some with any future dips.
If it breaks the resistance, its likely it will retest that resistance. I will be more interest at that time as its about putting your money with the fast returns for now.
From a bearish perspective, I don't see it happening as of yet, unless we lose that key fib level as support.
WEEKLY CHART
=========================================================================
BTC DOM CHART
=========================================================================
I thought I check with the popular ones, and like ETH and LINK, ADA is almost there for that big move.
I'm assuming its up with the slow topping off with BTC dominance at either the upper trend line or the 200 EMA (for the short term).
The indicators seem to suggest this.
As for ADA:
On the WEEKLY chart:
===================================
> We have the RSI on the Phoeix indicator cross over the 50% level, along with the grey energy.
Although it can dip back below, one can see that its slowly grinding its way up.
> Looking at the chart, we can see a the major resistance level of 0.108 with a number of touches while each pullback gives a lower high.
> The structure seems to fit the approaching trend line (new) after the top was made in August at the 0.618 level.
> The weekly stochastic and WT indicators also cross over showing upward momentum.
> We have all 4 EMA's below the current price;
Daily chart:
===================================
> We have lower highs where the fib levels were respected as per chart.
> Looks like an ascending triangle, potentially a reversal bottom pattern (likely).
I have the ABCDE elliot count for a Ascending triangle.
> Key resistance is around $0.11
> Phoeix on the daily has RSIs above the grey energy, another bullish sign
CONCLUSION:
===================================
I'm aware that BTC could find a pullback when we reach 17K but its confusing at the same time, why will the ALTS break up with this looming above it.
Hence I will not buy for the sake of buying as the daily suggests, its slow to move so we have time. I will buy up some with any future dips.
If it breaks the resistance, its likely it will retest that resistance. I will be more interest at that time as its about putting your money with the fast returns for now.
From a bearish perspective, I don't see it happening as of yet, unless we lose that key fib level as support.
WEEKLY CHART
=========================================================================
BTC DOM CHART
=========================================================================
Comment:
Just woke up, and all good with ADA. It held its price considering what BTC did. BTC dominance doesn't help as I have Upward pressure but it can easily pullback here
Trade active:
Trade closed: target reached:
1st target reached based on this post. Follow up post is this.
Discord: TradeToProspa
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This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
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