ADA break out in few days?
Updated
ADA has not seen a major pump as seen with most altcoins. Although it already has quite a marketcap and ranks 18th, there might be room to go up. It looks like it is in a major pennant and is reaching a point of decision. The MACD is turning green on daily and there is only a small ichomoku to break on the 4h candles, so there is potential to go up. However it needs some more volume to really break through I think. I bought some at the green line, but am waiting for the breakout and retest of the trend line for another good entry point. The first target could be around 420, which looks like an area of great resistance/support. After that, who knows :)
Note
Texbook breakout; reached the target area, retraced back to the trendline which now turned support. Strongly bounced from the trendline and broke through the first target.
I guess this is a clear example of how to trade breakouts; always wait for the retracement, do no chase candles.
Trade active
Might be getting ready for another go!
Note
And lift off!
Trade closed: target reached
WOW, this worked out really well! Too bad I did not follow the whole ride, I really did not see the last jump from 0.00001 and onwards coming. Nevertheless, made a very nice profit. I sold some at (1), some at (3) and the bulk around 0.00001. So I closed this trade for now. Not sure if this is the top yet, but if so we might see an ABC correction like this. Will be waiting at the bottom again :)
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