ADAUSD TARGET REACHED! Cup and HandleImportant things to note:
We got a great short squeeze from BTC creating upward momentum.
ADA has broken through first resistance.
My price target was touched perfectly before moving upward.
A strong basing pattern (cup) was formed.
If a handle forms next major of 2.52.
I have charted my minor price target.
Resistance levels are the same.
Support is noted on the chart.
So, do you think we are in a bullish trend now? Well, from the sound of all the salty bears, you can guarantee we are! My long on BTC paid off well! BTC has squeezed the short set to exp today creating upward pressure which is what we see now. ADA on the other hand, smashed through resistance and touched my price target perfectly. Now we have had a strong basing pattern form (a cup), and I would like to see an handle form creating a major target of 2.52. I also have a smaller minor target on the chart (if we do not get the cup and handle). The resistance levels are noted, but like I said before, I am not worried, I am just sitting back at the moment charting price target. Also, shoutout to my follower that called the 2.06 retracement! Great job. And shoutout to my other follower that mentioned crypto being influenced by the price action of the dollar. 100% Agree, great job! That feels pretty good! The momentum will increase the more low level resistance levels are broken. I hope you are all ready for the ride because these next few months are going to be insane in terms of price gains. hope to see many happy people these next few months! I will continue to watch ADA and update you all accordingly. I will be putting out my ADA summit recap post this weekend! Stay tuned and thanks again for all of the support!
I am going to make a video soon teaching everyone my approach to charting. I will cover the entire workflow process I go through. I hope you enjoy it.
Tell me what you think?
This is not financial advice. DYODD.
