Ada in a triangle and equilibrium
Updated
Good day,
Some news about ADA/BTC. As we have anticipated we can see a move to the upside of our wedge.
The 4 hrs is showing strengh, for now, over the emas.
In the larger time frame (daily) we have now a clear triangle and a clear equilibrium suggesting a breakout next week. In case of a bullish outcome, we would have enough steam to push the btc value to the red line. The red line represents a longterm resistance back from 2017.
In case of a bearish scenario (unlikely) we should revisit 440 sats where we have the main support.
On the ada/usdt side we got a rejection on a longterm resistance since mid 2019. We should retest it after the weekly close if we manage to hold 0.054$ and a breakout from it would push the price to the historical resistances at 0.0732 / 0.1068 / 0.197 respectively.
In case of a bearish outcome, the price should return to its support arround 0.044.
Some news about ADA/BTC. As we have anticipated we can see a move to the upside of our wedge.
The 4 hrs is showing strengh, for now, over the emas.
In the larger time frame (daily) we have now a clear triangle and a clear equilibrium suggesting a breakout next week. In case of a bullish outcome, we would have enough steam to push the btc value to the red line. The red line represents a longterm resistance back from 2017.
In case of a bearish scenario (unlikely) we should revisit 440 sats where we have the main support.
On the ada/usdt side we got a rejection on a longterm resistance since mid 2019. We should retest it after the weekly close if we manage to hold 0.054$ and a breakout from it would push the price to the historical resistances at 0.0732 / 0.1068 / 0.197 respectively.
In case of a bearish outcome, the price should return to its support arround 0.044.
Trade active
We have finally closed over the resistance at the 4 hrs (ada/usdt), we may need 4 hrs to confirm the breakout but if we don't have a reversal in the next 12 hrs it's very probable that we will end the consolidation at ada/btc.
Trade active
Mini update:We are trading in a bull flag, we may see a breakout in the next 13 hrs aprox.
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.