- Inverted Head an Shoulders is forming on the 1hr chart into strong resistance
- Close above psychological $50 level is encouraging of a reversal
- Need to see a few more candles to confirm a reversal
I think ADA/USDT might be breaking out here.
Strong divergence into key support level
Previously, divergence has been a strong signal of a large change in trend.
Big push up with volume
A retest of the key support level is likely and would form a nice looking inverted H&S out of the wedge
After a massive selloff, it looks like the buyers have stepped in again around the $10,000 mark.
Ultimately, the big selloff turned out to be a retest of the multi-year trend-line (which was successful). Let's go Bitcoin! :)
Broken out of the long-term trend-line
Push into $3.30 resistance with huge volume
Looks like inverted H&S pattern on the two hour chart
Right shoulder looks like a Cup & Handle pattern
If we can break out of this resistance level, price target is the next fib retracement and psychological $4 price level.
SNX is approaching strong resistance from both a long-term trend line and the psychological strong resistance of $5.
Knoxville divergence is also showing up on the hourly chart.
If the wedge can breakdown, I think we will see a larger move to the downside.