ADA: SHORT THE RISING WEDGE
Updated
ADA ANALYSIS:
ADA is another coin on a relief rally currently hitting the hourly resistance. ADA is also inside a strong rising wedge. With the current set up, it IS possible of a break UP and OUT of the wedge, which would be bullish up to .04. More so, im expecting this wedge to break down and fall back to create a known support closer to .022. The short targets are T1 at .027, T2 at .0261, T3 at .0244. RSI has bounced back significantly and ATR hit highs on this bounce. The bounce will give out to provide sellers another chance to knock it down. For those looking to play it safe, set BUY in bids near support!
Possible Short Entries: .0285-.030
ADA is another coin on a relief rally currently hitting the hourly resistance. ADA is also inside a strong rising wedge. With the current set up, it IS possible of a break UP and OUT of the wedge, which would be bullish up to .04. More so, im expecting this wedge to break down and fall back to create a known support closer to .022. The short targets are T1 at .027, T2 at .0261, T3 at .0244. RSI has bounced back significantly and ATR hit highs on this bounce. The bounce will give out to provide sellers another chance to knock it down. For those looking to play it safe, set BUY in bids near support!
Possible Short Entries: .0285-.030
Trade closed: target reached
WIN! ADA/USD SHORT Hit Target 1!
+6.90% Profit!
Trade closed: target reached
WIN! ADA/USD SHORT Hit Target 2!
+10.00% Profit!
Trade closed: target reached
WIN! ADA/USD SHORT Hit Target 3!
+15.86% Profit!
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