Again, Lovely ADA
Updated
Hi Guys,
After a successful iH&S in BTC we have Alts that start to celebrate that achievement.As you remember my last Cardano Analyse i mentioned there that ADA show us much more strength and power than other Alts and even BTC,for example we had ETH that came back to its downward channel during BTC last retrace and forming Shoulder,but in ADA we saw it moved along its downward channel and did not entered it,again.
Now we are above ADA important resistance again(dashed red line).
I expected ADA to reach black dashed line first with next BTC bounce to 7800 and after that we will see a little retrace in it and continue like black arrows.
If zoom out in chart and look at lower time frames can see a bearish wedge(chart above) there that prove ADA next move,but it is still evolving.
It's up too BTC that what want to do after reached that area.If BTC take much time below its resistance we will see movements in ADA more like blue arrows.In many cases i don't expect to break black dashed line in ADA soon,it's a huge ADA triangle that we have it for a long time and need much efforts to break it but like always many things can change in Alts chart's by BTC next movements.
I will update this idea as soon as i find new signs.Please give me a like if my analyse help you or like it.Help me now your opinion with leaving a comment bellow.
Good Luck
Peyman A
After a successful iH&S in BTC we have Alts that start to celebrate that achievement.As you remember my last Cardano Analyse i mentioned there that ADA show us much more strength and power than other Alts and even BTC,for example we had ETH that came back to its downward channel during BTC last retrace and forming Shoulder,but in ADA we saw it moved along its downward channel and did not entered it,again.
Now we are above ADA important resistance again(dashed red line).
I expected ADA to reach black dashed line first with next BTC bounce to 7800 and after that we will see a little retrace in it and continue like black arrows.
If zoom out in chart and look at lower time frames can see a bearish wedge(chart above) there that prove ADA next move,but it is still evolving.
It's up too BTC that what want to do after reached that area.If BTC take much time below its resistance we will see movements in ADA more like blue arrows.In many cases i don't expect to break black dashed line in ADA soon,it's a huge ADA triangle that we have it for a long time and need much efforts to break it but like always many things can change in Alts chart's by BTC next movements.
I will update this idea as soon as i find new signs.Please give me a like if my analyse help you or like it.Help me now your opinion with leaving a comment bellow.
Good Luck
Peyman A
Note
Very Strong,Great Support.Just look at ETH chart to understand Strength in ADA.Note
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.