ADAUSDT is creating an descending channel

The price is creating a descending channel between the weekly structures and the price is testing the 0.5 Fibonacci level as new resistance.

If you look on the left, you can see that the price got a rejection from that area,
it means that this area is very strong for ADA.

We are waiting for a breakout of 1.350 for applying our rules, but beware about the red resistance, it's a weekly resistance, usually, we avoid opening an aggressive position below the weekly resistance.

So, how we can trade it?
For an aggressive trade, we could apply the Academy's rules after a clear breakout f 1.4$.
For a conservative trade, we could wait for a clear breakout of the weekly resistance, (1.5$) and apply our rules in order to open a new long position.

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Follow the Shrimp 🦐

Keep in mind.

• 🟣 Purple structure -> Monthly structure.
  
• 🔴 Red structure -> Weekly structure.
  
• 🔵 Blue structure -> Daily structure.
  
• 🟡 Yellow structure -> 4h structure.
  

Follow the Shrimp 🦐

Comment:

The price is pushing to the upside after the breakout of 4h resistance with nice volume.

As we said before, here it's a risky trade because the price is below the weekly resistance (red structure 1.480$)

We are waiting for confirmation before applying our rules and opening a new long position.

Don't forget to check Bitcoin chart before oper a new trade
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Keep in mind.

🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.

Comment:

ADA had a breakout and we made more than 16% since my FREE Call.
Now the price needs to have a confirmation about the weekly flip.

Nice volume, big potential