I was short here, but consolidation is taking its time and it feels like a coin-flip right now, so I closed my position.
Ideal scenario for me would be to have another bounce up to the red area where depending on the reaction I might try to short. If we breakdown below the support (blue zone), I will try to short that way too, but I suspect the move will be hard...
ADA sitting on good support right now.
We have the following:
- Trendline Breakout
- RSI Bullish Divergence
- Ichimoku Cloud offering support below
- Kijun-Sen and Tenkan-Sen are far apart meaning the market is not in equilibrium. Since Kijun is flat price could bounce back to it for market equilibrium.
HOWEVER! There is big H&S Pattern staring us in the...
NCASH in potential ABCD triangle or inverse Head & Shoulders.
Ideal scenario highlighted with light blue arrows:
Price pulls back all the way to the very strong support at 0.00000375 and goes up from there. Ideal target would be the resistance at 0.00000440.
Other scenario with Inverse Head & Shoulders pattern highlighted with pink:
Price bounces on the current...