INTERPRETATION
ADABTC has bullish symmetric triangle forming & likely to continue its upward trend post-consolidation. Current entry is risky so stop-loss was placed appropriately. Conservative traders can ignore breakout entry & wait until 6750 to enter @ the top triangle imaginary line to test for pull-back. First target @ ~7080 & final @ 8400. Confirmation of bullish run can be confirmed w/ additional buy markers (see below).
POSITION
Entry @ 5760 (Target 8400)
Stop-Loss @ 5580
BUY SIGNALS
- bullish symmetric triangle
CAUTIONS/CONSIDERATIONS
- T&K bull cross + Price-T&K bull cross + Price-Cloud entry & breakout = confirms bullish sentiment
ADABTC has bullish symmetric triangle forming & likely to continue its upward trend post-consolidation. Current entry is risky so stop-loss was placed appropriately. Conservative traders can ignore breakout entry & wait until 6750 to enter @ the top triangle imaginary line to test for pull-back. First target @ ~7080 & final @ 8400. Confirmation of bullish run can be confirmed w/ additional buy markers (see below).POSITION
Entry @ 5760 (Target 8400)
Stop-Loss @ 5580
BUY SIGNALS
- bullish symmetric triangle
CAUTIONS/CONSIDERATIONS
- T&K bull cross + Price-T&K bull cross + Price-Cloud entry & breakout = confirms bullish sentiment
Trade closed: stop reached
INTERPRETATION"Terrible Tuesday" caused the primary coins & alts to plummet before rebounding in a . Cardano ADA was no exception to the market. ADA currently trading sideways & may be hitting end of correction period before continuing its upward trend. Possible bullish flags forming. Consider entry if 0.382 fib resistance is passed.
POSITION
Closed @ 5580 (Stop-Loss)
Entry @ ~6000 (0.382 fib passed)
Note
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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.