ADA / USD TA
Here we see that all of our pattern have validated. Overall this is very good crypto to trade since it follows clear patterns and validates most of them. We can expect some downward action to continue within our downward channel until we actually have a solid breakout. Long term holders should hold onto their ADA coins as Bitcoin is starting to look...
Technically a 'perfect' mid-term entry area should be the blue box, there are some lower levels also but this is the healthiest level!
- Different Fibo levels
- Channel trendline should act as a support
- Cup & Handle curve trendline should act as a support level
- EMA's act as the support levels.
- Recently worked price levels (orange lines)
From the technical...
Another example of the tumultuous noise around the coin.
With accent block chain 3.0. Hahaha! I am laughing !
Coin for those who constantly cheat!
As it became clear from the title that this is a useless animal that should be shot.
Thus, facilitate the lives of their investors.
ADA' has made a big rally past month and since Dec 2018. Volume has been very good as well. But now it has reached a long term resistance together with this possible wedge.
The volume picture of the wedge is okay but not great. Also the rally in the yellow zone was quite strong and not very typical for a wedge, but still...
Another Accumulation pattern found on ADABTC chart: Traditional "Saucer" or "Rounding Bottom" Trading Range also known as Head and Shoulders (inverted) bottom.
Price still in E phase, so there is a good opportunity to buy for holding mid term.
Targets are 1600—1800—2300—2500—3000
ADA/BTC is overdue for a bounce I believe.
We can see some nice bullish divergence on the higher timeframes.
If the resistance around 1370 sats breaks and acts as a support, I think we might see a retrace to the 0.382 - 0.5 fib levels.
Bitcoin might ruin the party if it drops below 5300$ though.
Retested neckline and appears to be finding support. Daily close 1436+ is engulfging. Time for another pump and dump. Massive hidden bull div as well (sign of continuation and strength in uptrends). USD pair is also clear bullish pattern. This is a bottom.