ADA/BTC Looks to Continue Uptrend
ADA/BTC Analysis 4-26-2018 — ADA/BTC Looks to Continue Uptrend
Hi all!
Right now we're looking at what appears to be consolidation in the formation of a bull flag.
Bullish Notes:
- Daily RSI has cooled off, but is currently hovering in bullish zone
- We saw a nice volume move off what appears to be a rounded bottom that took us up to .00003500
- Price crossed into the Bollinger Band's upper channel on 4-01-2018 and stayed there throughout the entire recent bullish move
- Bull flag consolidation coincides with the MA of the Bollinger Bands — price could react to the MA & continue in the upper channel
If price breaks upward out of the bull flag , monitor price action at .00004665. POTENTIALLY LOOK TO PEEL OFF PROFITS HERE.
If price breaks downward out of the bull flag , monitor price action at .00002000 for signs of reversal.
Measuring risk from the .00002000 bottom, and considering the strength of the most recent alt market rally, I find this pair to be a good hold. I see good potential in its upward movement, especially if BTC continues to make modest gains between $9000-10000
Hi all!
Right now we're looking at what appears to be consolidation in the formation of a bull flag.
Bullish Notes:
- Daily RSI has cooled off, but is currently hovering in bullish zone
- We saw a nice volume move off what appears to be a rounded bottom that took us up to .00003500
- Price crossed into the Bollinger Band's upper channel on 4-01-2018 and stayed there throughout the entire recent bullish move
- Bull flag consolidation coincides with the MA of the Bollinger Bands — price could react to the MA & continue in the upper channel
If price breaks upward out of the bull flag , monitor price action at .00004665. POTENTIALLY LOOK TO PEEL OFF PROFITS HERE.
If price breaks downward out of the bull flag , monitor price action at .00002000 for signs of reversal.
Measuring risk from the .00002000 bottom, and considering the strength of the most recent alt market rally, I find this pair to be a good hold. I see good potential in its upward movement, especially if BTC continues to make modest gains between $9000-10000
Note
Bigger timeframe look
Trade active
So far so good. ADA had a monster day yesterday, but it appears like it's going to cool off. Maybe we'll see a sub bull flag that will give us the continuation we need to hit our target.
Trade active
Continuing just like we want it to. ADA moving up while BTC stagnates around ~$9000-9100.
Note
Consolidation --> range bound environment?
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