ADA/BTC - My simple trade idea
ADA/BTC went under a 6 months bottom trendline channel this week
I think its making a spring/fake out so basically :
if ADA/BTC manage to get back above this trendline, at ~550 there will be a possibility for the pair to go x10, meaning that ADA/USD could go at least x20 for this bull run
if it can't go back above this trendline, I will slowly quit ADA to go for other assets performing already well
Weekly RSI is in bullish divergence since the trend has started (summer 2024) so this is kinda a big sign that ppl are buying it and that the coin is not necessarily dead
note that ETH/BTC is quite in the same situation and I have the same strategy for this asset
I think its making a spring/fake out so basically :
if ADA/BTC manage to get back above this trendline, at ~550 there will be a possibility for the pair to go x10, meaning that ADA/USD could go at least x20 for this bull run
if it can't go back above this trendline, I will slowly quit ADA to go for other assets performing already well
Weekly RSI is in bullish divergence since the trend has started (summer 2024) so this is kinda a big sign that ppl are buying it and that the coin is not necessarily dead
note that ETH/BTC is quite in the same situation and I have the same strategy for this asset
Note
As expected, ADA/BTC touched back the trendline yesterday, let see what happens nowNote
seems like it chose red pathNote
ADA is back !
seems that despite the retest of the line, it was a bear trap
luckily I just sold 1/3 of it
we are now taking the green path, this path can lead to x10, x20 or even x30 on ADA/USD
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