ADA moving against alt-coin market
Updated
If you were going to attempt to enter something, ADA is the only one of two coin in the top 8 on CoinMarketCap that is in a bullish trend against BTC and the market as a whole.
5/20 MA cross occurred and price has continued to bounce off the 5MA as it climes. VPVR shows we bounced from an area of strong volume interest again. Possible Double-Bottom pattern formed over the past month.
Best entries in order of contract size are - 5ma, 20ma.
Trade invalid (exit/take profit) if price closes below the 20MA, or the 5MA crosses below the 20MA.
I not yet in this trade. Looking to enter at levels mentioned.
My profit targets on this one will be - previous highs for taking small profits and then anytime it crosses below the 20MA after new A.T.H.
These are my own trades. Provided for educational purposes only.
5/20 MA cross occurred and price has continued to bounce off the 5MA as it climes. VPVR shows we bounced from an area of strong volume interest again. Possible Double-Bottom pattern formed over the past month.
Best entries in order of contract size are - 5ma, 20ma.
Trade invalid (exit/take profit) if price closes below the 20MA, or the 5MA crosses below the 20MA.
I not yet in this trade. Looking to enter at levels mentioned.
My profit targets on this one will be - previous highs for taking small profits and then anytime it crosses below the 20MA after new A.T.H.
These are my own trades. Provided for educational purposes only.
Note
ADA UpdateReached my buy level already at the 20MA - but it happened so fast I am waiting to enter. If price can get a 5/20 bullish cross on the 1hr I will enter, but playing it safe at the moment. Rather miss the bottom, than enter and have to stop out right away if this keeps falling with the rest of the alt market.
Note
ADA still looks like a short/do not trade to me. Have not entered this trade yet, and will not consider opening a long unless price action can close a 12hr candle above the 20MA
tradingview.com/chart/RB2xPK94/
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