Bullish Divergence on the 4-hour RSI for ADA/BTC
Updated
ADA/BTC is showing a bullish divergence on the 4-hour RSI. Price was dropping as the RSI was moving upwards making a higher low, could be a sign of a potential bullish move soon. However, there is a bunch of uncertainty given the USDT issues and the massive premium for Bitcoin on tether-based exchanges relative to the fiat-based exchanges, so keep that in mind that this is a higher risk trade and that it wouldn't take much to send the whole market reeling.
Entry: 1110-1135
Target 1: 1200
Target 2: 1230
Target 3: 1290
Stop-loss: 1080-1090.
--This is not financial advice. Always do your own research and come to your own conclusions before buying/investing, as investing in cryptocurrencies comes with high risk and high amounts of volatility .
Entry: 1110-1135
Target 1: 1200
Target 2: 1230
Target 3: 1290
Stop-loss: 1080-1090.
--This is not financial advice. Always do your own research and come to your own conclusions before buying/investing, as investing in cryptocurrencies comes with high risk and high amounts of volatility .
Note
Haven't seen a ton of crazy price action on ADA yet. 4-hour Stochastic is nearing over-bought/over-extended levels, and the 4-hour RSI and CMF are showing signs of downward movement. I don't think it will be anything crazy, but it might give those who missed getting in on ADA previously a chance to do so.Note
Came within 3 sat’s of target 1. Looking strong if the momentum can keep up!Note
Target 1 at 1200 sat’s has been hit!
FTX US: ftx.us/
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