ADA and some targets
Updated
Good day folks, I hope you're enjoying the week-end so far.
As we told in the last post ADA just broke out last night the bull flag on the 4 hrs. The break out was perfectly clocked with the resistance at
the equilibrium (blue dot line) and the resistance of the bull flag (in red).
We topped at 758 sats for a pause as the main target remain the big red line arround 900 sats. As we can observe clearly in the chart, the big transversal line (in red) is
what we are aiming, if we are cautious we can expect a small rejection from that line wich will start a short consolidation before a succeful breakout.
This line represents the main reversal line that the monthly if closing sunday night over the ema 12 (704 sats) will open a freeway to test next month
the ema 26 arround 1300 sats.
At ada/usdt the main and first target remain 0.0732 and we were very close to it last night.
It's good to know that the move started before the announcement of the release dates for Shelley and it was cause by a technical aspects of the chart.
The breakout of the longterm resistance (red transversal bar) started last year.
For the weekly we have a bull cross confirmed and we don't expect to make a double top at 0.07231.
Mainly because we expect the monthly to lead the way and hit 0.08 before the close sunday.
Areas near 790 sats and 0.073$ can play as pivots points to cool off the rsi that can start to be very oversold in case of fomo.
Be aware this is just an analysis.
As we told in the last post ADA just broke out last night the bull flag on the 4 hrs. The break out was perfectly clocked with the resistance at
the equilibrium (blue dot line) and the resistance of the bull flag (in red).
We topped at 758 sats for a pause as the main target remain the big red line arround 900 sats. As we can observe clearly in the chart, the big transversal line (in red) is
what we are aiming, if we are cautious we can expect a small rejection from that line wich will start a short consolidation before a succeful breakout.
This line represents the main reversal line that the monthly if closing sunday night over the ema 12 (704 sats) will open a freeway to test next month
the ema 26 arround 1300 sats.
At ada/usdt the main and first target remain 0.0732 and we were very close to it last night.
It's good to know that the move started before the announcement of the release dates for Shelley and it was cause by a technical aspects of the chart.
The breakout of the longterm resistance (red transversal bar) started last year.
For the weekly we have a bull cross confirmed and we don't expect to make a double top at 0.07231.
Mainly because we expect the monthly to lead the way and hit 0.08 before the close sunday.
Areas near 790 sats and 0.073$ can play as pivots points to cool off the rsi that can start to be very oversold in case of fomo.
Be aware this is just an analysis.
Trade active
ADA/BTC broke the small resistance of the consolidation yesterday just before the daily close. The USDT value just broke it.
That delay between both charts was caused by the big buyer move at Btc a few days ago. It's very likely that ADA/BTC will gain value against BTC, when BTC will receive a sell pressure at some point today or stay flat. When both charts will match, we will have a test of the resistance arround 900.
For the magnitude of the resistance we may need a few test before breaking it.
Trade active
We will see between today or tomorrow a break of the famous resistance at 907 sats and the longterm resistance. This would be confirmed once we close the daily over 907 sats today. Tomorrow or monday would be the big day for ADA to venture in the big waters around 1200 sats and 0.10$. I expect a correction after that big wave with an ideal support at 900 sats.
This idea is supported by another indicator on the Bitcoin dominance where we are waiting the break downward of the actual short term support (red line) and giving some space to hit the longter support (black line).
If that bear cross and the lose of the support at 65.65 happen, we may have a lot of fun at the alts. Keep an eye on it.
Note
We are still waiting the close on the daily over 907 sats. A good indicator in a lower time frame would be the 12 hrs closing over the red line.
The BTC Dominance suggest that we can have one more day of sideways but we can expect some big names to start moving upward during the day.
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