ADA/BTC - My simple trade idea
ADA/BTC went under a 6 months bottom trendline channel this week
I think its making a spring/fake out so basically :
if ADA/BTC manage to get back above this trendline, at ~550 there will be a possibility for the pair to go x10, meaning that ADA/USD could go at least x20 for this bull run
if it can't go back above this trendline, I will slowly quit ADA to go for other assets performing already well
Weekly RSI is in bullish divergence since the trend has started (summer 2024) so this is kinda a big sign that ppl are buying it and that the coin is not necessarily dead
note that ETH/BTC is quite in the same situation and I have the same strategy for this asset
I think its making a spring/fake out so basically :
if ADA/BTC manage to get back above this trendline, at ~550 there will be a possibility for the pair to go x10, meaning that ADA/USD could go at least x20 for this bull run
if it can't go back above this trendline, I will slowly quit ADA to go for other assets performing already well
Weekly RSI is in bullish divergence since the trend has started (summer 2024) so this is kinda a big sign that ppl are buying it and that the coin is not necessarily dead
note that ETH/BTC is quite in the same situation and I have the same strategy for this asset
Note
As expected, ADA/BTC touched back the trendline yesterday, let see what happens nowNote
seems like it chose red pathNote
ADA is back !
seems that despite the retest of the line, it was a bear trap
luckily I just sold 1/3 of it
we are now taking the green path, this path can lead to x10, x20 or even x30 on ADA/USD
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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.
Related publications
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.