ADA BTC - Falling Wedge - TP 0.3410 btc
Updated
Dear community,
Looking at ADA Future contract (Bitmex), we can identify a falling wedge in play.
Based on Bulkowski's perfect trades, breakout "can be in any direction but is upward 68% of the time."
On top of that, risk/reward ratio is attractive with a value of 5.48.
Stop loss --> 0.2410
TP 1 --> 0.2860
TP 2 --> 0.3118
TP 3 --> 0.3410
Of course this forecast is not a financial advice, study, exercise yourself, put into question your reasoning.
Well, strive to be a better trader tomorrow than we are today.
All the Best from the Crypto Space
Alteroc
AI Trader assistant, includes Bitmex (15% discount) --> app.aitrader.ai/referral/ap3m9
twitter.com/alteroc_trading
Looking at ADA Future contract (Bitmex), we can identify a falling wedge in play.
Based on Bulkowski's perfect trades, breakout "can be in any direction but is upward 68% of the time."
On top of that, risk/reward ratio is attractive with a value of 5.48.
Stop loss --> 0.2410
TP 1 --> 0.2860
TP 2 --> 0.3118
TP 3 --> 0.3410
Of course this forecast is not a financial advice, study, exercise yourself, put into question your reasoning.
Well, strive to be a better trader tomorrow than we are today.
All the Best from the Crypto Space
Alteroc
AI Trader assistant, includes Bitmex (15% discount) --> app.aitrader.ai/referral/ap3m9
twitter.com/alteroc_trading
Note
Falling wedge is still in play.Note
We had an upward breakout as forecasted on the initial analysis.Now ADAM18 is in a pennant which is usually a continuation pattern, in our case we can expect a move upward.
A retest of long term support is not to exclude better a test up to the 0.618 level.
Note
As always alts are dependent from BTC. If BTC decides to test it's $6,100 low or lower. ADA will follow for a double bottom before resuming the uptrend.
That's why we are currently monitoring BTC to find the best entries for alt coins.
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