ADAUSD Extremely Bullish
Good Afternoon traders,
We've seen bullish momentum formulate in the last day and it's lead us into a strong ascending wedge pattern on the hourly chart for ADAUSD
At the time of publishing, we're currently fighting a resistance zone at $2.75, I believe ADAUSD will break through this for a plethora
of reasons:
Based upon these indicators and patterns, I'm waiting for a break in resistance to open a long position, and if BTCUSD can consolodate
for this coming week, we will soon see a retest of all time highs!
Best of luck to all,
Spence
We've seen bullish momentum formulate in the last day and it's lead us into a strong ascending wedge pattern on the hourly chart for ADAUSD
At the time of publishing, we're currently fighting a resistance zone at $2.75, I believe ADAUSD will break through this for a plethora
of reasons:
- We've regained the 200MA, and if continued upwards, we may see a Golden Cross forming.
On the 6th of this month, we saw a Death Cross occur, which coincided with our fall to $2.00,
so with the formation of this extremely bullish indicator, I believe we will observe the price become exceedingly bullish - We have one day until we see the launch of our Smart Contracts program, which may entice buyers and bring in volatility with volume
- We also see a very nice ascending wedge forming, of which we've tested support 3 times, and resistance only twice.
Based upon these indicators and patterns, I'm waiting for a break in resistance to open a long position, and if BTCUSD can consolodate
for this coming week, we will soon see a retest of all time highs!
Best of luck to all,
Spence
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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.
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.