ADAusdt seems to completed 5 waves down during the drop and all the moves we are having now simply means ABC correction of the last moves.
While analyzing the chart, I spotted a Bullish flag and pole which has already hit target at present spot where we have the top level of the price. This likely mean the end of the corrective pattern ABC if this current high still hold and the target zone for Pole and flag acted as resistance.
Trade Expectation:
1. Since the price formed potential rising channel with price trading inbewteen now means we may likely see a test on the upper side of the channel which implies we will have one more leg upside to complete wave 5 on the chart.
For this view, we should wait to Long from the suggested Buy Back Zone with tight stop loss.
2. This may just be the beginning of new downtrend so what we need to do is to keep an eyes on the present resistance level if the level still keep holding then we should have it in mind that new low is possible.
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Note: It will be good to always understand risk involve in trading. Always trade with stop Loss in place.
Set up an entry/exit strategy for every trade, with good risk/reward ratio.
Trade active
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Daily view favour more of drop than pump
Trade active
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Trade closed: target reached
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Price hit target for bullish flag. Trade continue we can long again at buy back zone