More clarity on the mid term
Updated
Hello everyone, I hope you are doing great!
I'm here for a new mini update on ADA. As we expected from the last update we have managed to top a little over the target of the big inverse h&s. We have after that retested two times the last resistance now acting as a big support.
On the weekly we can see two big bullish structures forming, a) another massive inverse h&s (black) and b) a big cup where we are forming the handle just right now. In both cases the target is around 9000 sats.
a)
b) on top of the screen.
On the daily we can see a clear bull flag forming, we should confirm the formation if we top in the next few weeks in the area of 4500 sats.
On the USDT side the panorama depends on Bitcoin mostly and the actual bounce (despite its volume) is not very convencing.
The daily showed a breakout of the downtrend (blue) but seems to be a fakeout. We need to see if the support (red) holds. Losing the support at 1.05$ wasn't a good signal. Some people can see it as a capitulation phase.
I'm here for a new mini update on ADA. As we expected from the last update we have managed to top a little over the target of the big inverse h&s. We have after that retested two times the last resistance now acting as a big support.
On the weekly we can see two big bullish structures forming, a) another massive inverse h&s (black) and b) a big cup where we are forming the handle just right now. In both cases the target is around 9000 sats.
a)
b) on top of the screen.
On the daily we can see a clear bull flag forming, we should confirm the formation if we top in the next few weeks in the area of 4500 sats.
On the USDT side the panorama depends on Bitcoin mostly and the actual bounce (despite its volume) is not very convencing.
The daily showed a breakout of the downtrend (blue) but seems to be a fakeout. We need to see if the support (red) holds. Losing the support at 1.05$ wasn't a good signal. Some people can see it as a capitulation phase.
Trade active
Good day, it looks like we are in position to decide what will happen next. The biais is obviously bullish. We have adapted the resistance on the usdt pair due to the fakeouts.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.