$ADX bounce or break back to accumulation

Getting many request on Twitter for this pair, so lets give it a go.
I dont have any idea about fundamentals for this coin or any news/developments coming out soon...I just did my technical analysis .
After a strong upmove, its sitting around Fibo 68,1% support.
2 scenarios:
1) it breaks the red trendline for another big push up, over previous top
2) it breaks the fibo support and falls back in the old accumulation zone which is also a target area for my Fibonacci extension calculations.

Personally, I have a feeling that it might break out to the upside. Maybe some news coming soon which supports a possible pump.

Tradingadvice: buy after the breakout of the red line or if it breaks fibo, let if fall back to the blue box
Aug 26
Comment: Breaking out!

Aug 27
Comment: Broke out and did a classic retest of trendline, now looking upwards.
Let's go!

Aug 28
Comment: Looking healthy....
Frist target area is around 40k but my aim is 65-70k this week ;-)

Aug 29
Comment: After a nice upmove, price suffered from BTC rally.
It dumped into the blue box and even a bit below.
Nothing to worrie for now. I think it won't dump mucht further and hopefully it makes a good bounce into a new uptrend.
Aug 31
Comment: Update: I was wrong, it dumped more as expected and formed a new pattern.
Breaking the yellow trendline downwards will be a fall back into accumulation zone but looking at the indicators, I'm thinking it could make a new attempt up from out of this area.
Watch for a breakout to the upside before jumping in and dont forget the risk of a further fall. If you dont use a stoploss it might take weeks/months before price is back on your entry position. Selling wiht a loss is not a shame, its moneymanegement.

Aug 31
Comment: correction: breaking the yellow trendline was mistake, I mean the blue trendline
Sep 09
Comment: For days already in a bullflag, just waiting for it to fly

Stop loss triggered, I had big hopes in this one. You and Excavo shared the same view, so it would be a gold mine haha. The breakout was rumors related and the news didn't deliver. Thanks for your ideas.
TA no longer valid probably?
SmokingCrop SmokingCrop
Oh, they just released some new partnership news:
I have read your target of 70K. In what timeframe do you see this happening ?
@AltG, can't tell you right crystal ball is broken.
70k is possible target, not sure
An ADEX developer tweeted that they will announce another partnership this week. So fundamentals backed with this analysis looks good. I saw your chart right before the breakout, I hope it holds.
@AltG, ah, thanks for the info....didnt know that
@AltG, can you link to the tweet?
AltG LeHoang123
@LeHoang123, It was not on twitter excuse me. It was in the telegram channel
Broke trendline! Thanks for the analysis.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out