Currently ADA is in a downward channel and is currently sitting in between the Daily resistance (Dotted green line)
Currently we have entered back in the channel after the market dropped last yesterday. ADA looks like it got rejected from midline channel (black dotted line) two times in the 4HR chart.
We are getting to the intersection point of Daily resistance and midline channel resistance.
The market seems to be in correction mode after BTC decided to sell off after multiple failed attempts at ATH.
I am long term extremely bullish on ADA. For smaller time frames, a short would be a good entry point after rejection from intersection of the two resistance.
A bounce of parabolic curve would be a great buy area.
Break out of channel resistance will invalidate this idea.
Long term View ADA:
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Currently we have entered back in the channel after the market dropped last yesterday. ADA looks like it got rejected from midline channel (black dotted line) two times in the 4HR chart.
We are getting to the intersection point of Daily resistance and midline channel resistance.
The market seems to be in correction mode after BTC decided to sell off after multiple failed attempts at ATH.
I am long term extremely bullish on ADA. For smaller time frames, a short would be a good entry point after rejection from intersection of the two resistance.
A bounce of parabolic curve would be a great buy area.
Break out of channel resistance will invalidate this idea.
Long term View ADA:
Thank you for supporting <3
Full Trade Available & BitMex Trading Bot
👇👇
