ADABTC trade ideas
ada btc 10 oct 2020formation of falling wedge pattern , formation of inverted cup and handle pattern
Inverted Head and Shoulders on ADA BTCOpened a long position here already and I'll deploy more capital if the market turns up. Targeting a 25% move above the neckline.
ADABTC Daily S/R| Bull Flag| Stoch Equilibrium| 200 EMA Evening Traders,
Second analysis – ADABTC –breaking above Structural S/R, price acceptance at this level will be bullish.
Points to consider,
- Bullish Price Action
- Daily S/R Support
- 200 EMA Resistance
- Stochastics Equilibrium
- Declining Volume
ADABTC’s current price action is bullish, trading in a probable bull flag, This allows us to have a bullish bias on the market.
The Daily S/R is immediate support that is in confluence with the .618 Fibonacci. Price holding and respecting this level is a bullish bias.
Resistance is poised by the 200 EMA, breaking this will coincide with price hitting technical and validating the bull flag.
The stochastics is in a valid equilibrium, a break in either direction will coincide with price movement.
The volume profile is declining, this is indicative of an influx when testing key levels such as the Flag and Daily S/R resistance.
Overall, in my opinion, ADABTC is a valid long with defined risk, price action is to be used upon discretion/ management of trade
Hope this analysis helps
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emember,
$ADA / BTC Update for $ADA - looks as though support could hold although there is a clear "M" bearish formation (see callout on chart)
ADABTC Trading planPattern: Higher Lows on 1D.
Signal: (A) Buy as long as the Higher Lows trend-line holds, (B) Sell if it breaks.
Target: (A) 0.00001400 (Lower Highs trend-line), (B) 0.00000450 (Support).
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possible bear flag patternit is possible that a bear flag is forming. this could take the asset as low as 700 to fill heavy demand around 650. on the other hand, a strong turn to the upside can occur at any time, however large moves to the upside may be reserved for news surrounding a coinbase listing, which may easily find the asset to double in price.
ADA bullish & bearish scenarioPlease feel free to share your view on this pair down below in the comment section. I'm more than happy to be challenged and have an interaction on this idea.
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