This thread correlates with my linked BTC thread and is all on the back of BTC having a bounce. I think there is a reasonable chance BTC has a fast fakeout slump before the bounce but allowing for that with a wide stop on ADA - here is my setup.
ADA seems an obvious choice to trade for a bounce:
Target is the 0.618 retracement area $2.13 up to $2.4 for overshoot, but if it gets there I might let some of the trade run a bit and wait for sign of reversal.
Not advice.
ADA seems an obvious choice to trade for a bounce:
- Currently it sits in the green support channel that has previously held price well.
- Daily RSI is overbought and showing some bullish divergence.
- MACD is curling up with histogram moving above the 0 point.
- Inside fibonacci projection (1:1) hits current support area and good chance is a sign of reversal.
Target is the 0.618 retracement area $2.13 up to $2.4 for overshoot, but if it gets there I might let some of the trade run a bit and wait for sign of reversal.
Not advice.
Commento:
On 3 day chart ADA has lowest RSI since March 2020 and lowest MACD ever.
Commento:
Looks like ADA is breaking out here.
Telegram Trading Group 🧐
Priority trades, round the clock updates and a 1 hour technical video per week 😼.
Get the "heads up" at critical moments - don't lose your shirt.
$50 per month 👍🏻.
Contact: t.me/dRends35
Priority trades, round the clock updates and a 1 hour technical video per week 😼.
Get the "heads up" at critical moments - don't lose your shirt.
$50 per month 👍🏻.
Contact: t.me/dRends35
