ADA 1st March - 3 possibilities
Updated
fundamental analysis: I've heard there are updates coming on the 1st of march? this could indicate a rocket. but be skeptical, because you should buy on rumor and sell on news
technical analysis: 3 possibilities.
first possibility, it forms a symmetrical triangle and it breaks to a target as tall as the triangle's height. if it breaks higher over it's resistance (the all time high) we could sky rocket further.
second possibility, it forms a descending wedge when it breaks the support for the triangle, in this case sell once its confirmed and wait to re-buy lower because it generally is a bullish pattern .
third possibility, it breaks the triangle resistance but doesn't hit the target, forming an ascending wedge. be careful this is generally a bearish pattern , know when to take profits
personal trade: i bought at .90ish? and sold at around 1.43ish; rebought during the dip around 1.29ish. buy low sell high
give credits to my friend who helped out with this analysis! tradingview.com/u/yorriz
technical analysis: 3 possibilities.
first possibility, it forms a symmetrical triangle and it breaks to a target as tall as the triangle's height. if it breaks higher over it's resistance (the all time high) we could sky rocket further.
second possibility, it forms a descending wedge when it breaks the support for the triangle, in this case sell once its confirmed and wait to re-buy lower because it generally is a bullish pattern .
third possibility, it breaks the triangle resistance but doesn't hit the target, forming an ascending wedge. be careful this is generally a bearish pattern , know when to take profits
personal trade: i bought at .90ish? and sold at around 1.43ish; rebought during the dip around 1.29ish. buy low sell high
give credits to my friend who helped out with this analysis! tradingview.com/u/yorriz
Trade active
it broke out the resistance trendline; either possibility 1 or 3 from here
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