Acummulation bullish triangle on ADA with decreasing volume.
Hello traders!!!
If you look at the 4h chart on ADAUSDT you can see an accumulation triangle that i will interpret as a bullish sign.
Taking in to account the strong upward movement that Cardano started last week it seems that the triangle is indicating an uptrend continuation.
If you look at the volume, it is decreasing, witch means the market is refusing to trade lower prices.
Bitcoin looks stable however, if it goes lower than 29000$ this plan is invalidated.
I will enter a long position on ADA at 0.550$ with stop loss at 0.5255$ and targets 0.686$ and 0.737$.
I will be glad to see what do you think in the comments and if you agree with me push the like button, it helps a lot.
Regards and happy trading.
If you look at the 4h chart on ADAUSDT you can see an accumulation triangle that i will interpret as a bullish sign.
Taking in to account the strong upward movement that Cardano started last week it seems that the triangle is indicating an uptrend continuation.
If you look at the volume, it is decreasing, witch means the market is refusing to trade lower prices.
Bitcoin looks stable however, if it goes lower than 29000$ this plan is invalidated.
I will enter a long position on ADA at 0.550$ with stop loss at 0.5255$ and targets 0.686$ and 0.737$.
I will be glad to see what do you think in the comments and if you agree with me push the like button, it helps a lot.
Regards and happy trading.