ADA Price Squeeze
Quick TA on Cardano ADABTC,
We see a tightening of the bollinger bands as the price coils within its wedge, signalling a possible breakout. Price has shown stability from the shorter to the longer MAs (50/100/200) in the subsequent days leading up to this squeeze, indicative of a likely break to the upside. Also note, the 50MA (in green) has crossed the 200MA (in red).
Based on support/resistance levels
RR Ratio about 3:1, quite favourable
Short term target breakout levels
1129sats
1217sats
Look at longer time lines to plot this possible bullrun.
We see a tightening of the bollinger bands as the price coils within its wedge, signalling a possible breakout. Price has shown stability from the shorter to the longer MAs (50/100/200) in the subsequent days leading up to this squeeze, indicative of a likely break to the upside. Also note, the 50MA (in green) has crossed the 200MA (in red).
Based on support/resistance levels
RR Ratio about 3:1, quite favourable
Short term target breakout levels
1129sats
1217sats
Look at longer time lines to plot this possible bullrun.
Note
price continues to coil within wedge, bollinger bands tightening up, moving averages are converging, are we preparing for lift off, or a breakdown to lower lows?
Trade closed: target reached
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