Hello ADA hodlers and traders,
Today I present to you bullish outlook on ADABTC pair. The price is currently sitting on the 21 week SMA. If the price can bounce up from here and get above the 0.00006200 sats there is huge upside potential. As you can see in the chart there is long term cup and handle pattern. If the bulls can confirm a break out above the cups...
Quick update for CARDANO. To describe it in one word, the chart is "BULLISH".
Based on the ADA/BTC chart, CARDANO is at the white support line and it tested it perfectly multiple times successfully!
Not only that, the RSI is oversold in the daily and the MACD is showing sign of bullish reversal.
It's time to go big. Invest safely my...
I am oh so very tempted to take a long on adabtc... however because we are at the start of a potential strong run against BTC then maybe that would not be wise.
I could see a nice bounce off the higher box, but upward growth could be short lived if BTC continues its rally.
Also if BTC 2x in price like many think it will over the next 30-60 days then we could...
Let me explain... The ADABTC pair (for example) shows still more bearish potential (Potential for going down more). The only way for this to occur... I say again, "The ONLY way for this to occur is for the following:
BTCUSD to go up MORE (percentage wize) than ADAUSD
BTCUSD and ADAUSD to both go down BUT ADAUSD go down MORE (percentage wize) than BTCUSD;...
I don't know about you but I'll take some ADA with my coffee!
Unbelievable Cup & Handle patterns on ADA/ BTC Weekly chart..........this only depends on Bitcoin's price now. If we hit $100k then we'll FOR SURE see a $10-$14 Cardano.
If BTC goes to $200k, well then, you can do the math!
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Why i believe ADA will see a big move soon is because the BTC pair is at major support at the rising trendline.
You can see what happened every time we touched that trendline, + 100%.
If we get that bounce going then it's important that we break the highs again because otherwise we are possible setting up a head and shoulder pattern.
Thanks for taking your time...
TIME SENSITIVE!!! I have made the switch over from btc into ADA and staking. Preparing for ADA to BTC to absolutely explode!
*RSI on market cipher is completely bottomed out, at 7
*Bullish Engulfing Daily candle
*Market Cipher Momentum Wave bottoming out ready for buy signal
*Parabola has held true and shows a steady path through the rest of the year
I really like this entry here. ADA has a very oversold RSI at 16 as it runs into strong support and a trend that's been in play since the beginning of the year. ADA also has a history of strong bullish spikes when it gets this oversold, which makes this entry even more enticing. I'm long here.
Cardano has shown us many times in the past, that it likes having low volume downtrend consolidation from top trend line of channel back down to the bottom trend line. There is also an easily spottable bullish divergence currently. This is then followed by a high volume, explosive more to the top trend line. A break from the top trend line of this bull pennant can...
Buy the breakout of the green line to make 2x to 4x gains. Simple but effective, new price discovery after the all time high, amazing project with huge potential to keep growing. Remember only to buy the breakout! Goodluck trading :) :)))
Weekly market structure (and daily if we zoom out a bit more) is still incredibly bullish for Cardano. Shorter term price action has lead to a couple of lower highs and lower lows. We a reaching a big support zone which coïncides with the 0.5FIB level. Should we hold this level then ADA will have set a higher low and could continue its longer term bullish...