ADA.USDT (Y20.P4.E3).Looking for the next long
Updated
Hi All,
With the potential of BTC dominance to drop a bit further as per my previous post, with each level, gives the ALTs to bounce up further.
MY THOUGHTS:
===========================
> Looking at ADA, its sticking to the fib levels as per chart as key pivot points;
> On the weekly, we can clearly see the top lead in trend line as the new resistance as well as the fib levels;
> Currently on the weekly, the 21 EMA is acting resistance between the fib levels;
> On the daily we can see a ascending triangle with lower highs in the making and an elliot ABCDE count,
would likely help it which goes with the daily BTC dominance level where it might temporarily find support;
> I feel there will be a pullback as to point E and then up it goes, coins like ETH are more advanced so this can be an indication for things to come;
left pane, Weekly, right pane, daily chart.
The Daily chart has some upward pressure remaining. Is it enough to break that level and then retest it as support.
That would be the move to buy in, on the retest if you haven't bought. Or wait for point E as it retests the trend line as support (dotted line)
Weekly doesn't indicators is nuetral
Please give me a like or tick for this post,
Regards,
S.SAri
8 HRLY and Daily have upward pressure still.
With the potential of BTC dominance to drop a bit further as per my previous post, with each level, gives the ALTs to bounce up further.
MY THOUGHTS:
===========================
> Looking at ADA, its sticking to the fib levels as per chart as key pivot points;
> On the weekly, we can clearly see the top lead in trend line as the new resistance as well as the fib levels;
> Currently on the weekly, the 21 EMA is acting resistance between the fib levels;
> On the daily we can see a ascending triangle with lower highs in the making and an elliot ABCDE count,
would likely help it which goes with the daily BTC dominance level where it might temporarily find support;
> I feel there will be a pullback as to point E and then up it goes, coins like ETH are more advanced so this can be an indication for things to come;
left pane, Weekly, right pane, daily chart.
The Daily chart has some upward pressure remaining. Is it enough to break that level and then retest it as support.
That would be the move to buy in, on the retest if you haven't bought. Or wait for point E as it retests the trend line as support (dotted line)
Weekly doesn't indicators is nuetral
Please give me a like or tick for this post,
Regards,
S.SAri
8 HRLY and Daily have upward pressure still.
Note
Chart update, including fib lines and BTC pairing.Note
woke up this morning, stopped out and the pullback is deeper than what I liked for a continuation of the trend. I could be wrong but I will thing Ada will not recover easily from here as its drop below the preferred support lines, opening the door for potentially lower pricing. BTC did the same based on the candlestick.
Discord: discord.com/invite/vb4hbP88vb (TradeToProspa)
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
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.