Hallemahalle

ADX - trapped again, where to go?

BITTREX:ADXBTC   AdEx / Bitcoin
ADX is in an old consolidation channel, similar to the one after the big pump and before the huge correction. Big resistance is shown in the blue box.
The price broke into the cloud is no heading sideways. Conversion line (blue) is below base line(yellow).
RSI shows an slightly oversold market and is heading downwards. Depending on the current 4h candle, a change in movement direction can might be seen. (from bearish to bullish )

A first important step would be a strong bounce from the bottom of this channel so we can be sure that this support holds and will not break like the first one. If you buy in now, place a stop loss below this channel.
The next target would be breaking through the channel and reaching the strong resistance.
Comment: Due to SegWit2x BTC update, many alts are going down because a hardfork into Bitcoin and Bitcoin (Gold?) is expected. People are selling ALTS to get their BTC and receiving free Bitcoin Gold coins similar to what happend during Bitcoin Cash hardfork.

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out