ADA/BTC
Now we see how hell broke the 0.78 Fibo level, but could not resist and punched it down, thus forming a figure of head and shoulders, as well as the right shoulder coincides with the line of global resistance, which was not punched twice the previous time. If the demand for the asset exceeds the supply and we see a repetition of the level of 0.76 Fibo and the global resistance of the falling wedge, this will be a change in the downtrend and in the future we can see new peaks. But in the current situation, after the right shoulder, we are going down to the first level of support, and then we can see testing the second level of strong support.
Trade active
an unexpected turn and we, together with the BTC, fell earlier than the right shoulder appeared. We were greeted by the first support zone, I guess that with a further decrease in BTC, we can see a drop to the second support.Trade active
For now ADA form a right shoulder but lower than I expected. That's mean we'll see a support zone №1.5 at 1090 sat.Trade active
Now we see that the ADA has broken the upper boundary of the wedge, it is also a global resistance. If we hold on and test this zone as a support, we can see further the movement up to 0.718 Fibo level and if we break it it'll be new growth trend. If the volume falls and moves down and the ADA returns to the big wedge, this forecast will be reactivated and the ADA may see the first support zone at 1170 sat
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.