ADAUSDT 2h short term analysis
Hello again Traders!
it seems to me that a complex correction pattern is happening for ada/usdt in 2 hour time frame. As can be observed there is a descending channel in which the price is fluctuating, plus a very important support zone at aound 0.16 has been lost. Therefore, I believe after a retest of the mentioned zone a short position can come in handy ;) . The risk to reward ratio looks pretty decent so I'm setting my short order. DO NOT forget the stoploss since the market can be quite deceiving these days.
Good luck to everyone and Happy Holidays.
it seems to me that a complex correction pattern is happening for ada/usdt in 2 hour time frame. As can be observed there is a descending channel in which the price is fluctuating, plus a very important support zone at aound 0.16 has been lost. Therefore, I believe after a retest of the mentioned zone a short position can come in handy ;) . The risk to reward ratio looks pretty decent so I'm setting my short order. DO NOT forget the stoploss since the market can be quite deceiving these days.
Good luck to everyone and Happy Holidays.