ADA: Double Bottom or Bear Continuation
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ADA has entered a support zone for the second time and seemingly establishes support suggesting potential for a double bottom reversal.
To verify a reversal I am looking for price break outside of 1.25 (The next resistance point in the trend) then move forward to 1.30 resistance
We are still in an overall bearish movement however and as such price can still trade lower and lower.
Strategy: This is a strong buy setup. Currently, ADA is at a price of 1.23 as such risk is at 1.20 (the bottom of the support zone) and potential reward is 1.30.
Best of luck, Like/follow for more
ADA has entered a support zone for the second time and seemingly establishes support suggesting potential for a double bottom reversal.
To verify a reversal I am looking for price break outside of 1.25 (The next resistance point in the trend) then move forward to 1.30 resistance
We are still in an overall bearish movement however and as such price can still trade lower and lower.
Strategy: This is a strong buy setup. Currently, ADA is at a price of 1.23 as such risk is at 1.20 (the bottom of the support zone) and potential reward is 1.30.
Best of luck, Like/follow for more
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