ADA - resistance will confirm dead cat or up trend
1.822 resistance. A break above would suggest the correction is over. A failure to break above would suggest a bear trap for Ada and the broader crypto class.
Trade active
ADA, ETH, DOT and ofcourse XBT, are all at the sharp end of a consolidation wedge. Meaningful downside risk.Prepare for a very ugly move, considerably lower.
At the same time, prepare for a resumption to the upside.
Leverage should be cut to zero. Direction is unpredictable.
Trade when the trend is more clear.
Trade closed manually
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I am not a registered investment advisor. Nothing I say, or share, constitutes investment advice. Take responsibility for your risk and do your own research.
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.