Long
ADA BTC - Falling Wedge - TP 0.3410 btc
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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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.
Related publications
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.