ADA/BTC Analysis 4-26-2018 — ADA/BTC Looks to Continue Uptrend
Hi all!
Right now we're looking at what appears to be consolidation in the formation of a bull flag.
Bullish Notes:
- Daily RSI has cooled off, but is currently hovering in bullish zone
- We saw a nice volume move off what appears to be a rounded bottom that took us up to .00003500
- Price crossed into the Bollinger Band's upper channel on 4-01-2018 and stayed there throughout the entire recent bullish move
- Bull flag consolidation coincides with the MA of the Bollinger Bands — price could react to the MA & continue in the upper channel
If price breaks upward out of the bull flag , monitor price action at .00004665. POTENTIALLY LOOK TO PEEL OFF PROFITS HERE.
If price breaks downward out of the bull flag , monitor price action at .00002000 for signs of reversal.
Measuring risk from the .00002000 bottom, and considering the strength of the most recent alt market rally, I find this pair to be a good hold. I see good potential in its upward movement, especially if BTC continues to make modest gains between $9000-10000
Hi all!
Right now we're looking at what appears to be consolidation in the formation of a bull flag.
Bullish Notes:
- Daily RSI has cooled off, but is currently hovering in bullish zone
- We saw a nice volume move off what appears to be a rounded bottom that took us up to .00003500
- Price crossed into the Bollinger Band's upper channel on 4-01-2018 and stayed there throughout the entire recent bullish move
- Bull flag consolidation coincides with the MA of the Bollinger Bands — price could react to the MA & continue in the upper channel
If price breaks upward out of the bull flag , monitor price action at .00004665. POTENTIALLY LOOK TO PEEL OFF PROFITS HERE.
If price breaks downward out of the bull flag , monitor price action at .00002000 for signs of reversal.
Measuring risk from the .00002000 bottom, and considering the strength of the most recent alt market rally, I find this pair to be a good hold. I see good potential in its upward movement, especially if BTC continues to make modest gains between $9000-10000
Trade active:
So far so good. ADA had a monster day yesterday, but it appears like it's going to cool off. Maybe we'll see a sub bull flag that will give us the continuation we need to hit our target.
So far so good. ADA had a monster day yesterday, but it appears like it's going to cool off. Maybe we'll see a sub bull flag that will give us the continuation we need to hit our target.
Trade active:
Continuing just like we want it to. ADA moving up while BTC stagnates around ~$9000-9100.
Continuing just like we want it to. ADA moving up while BTC stagnates around ~$9000-9100.
Comment:
Consolidation --> range bound environment?
Consolidation --> range bound environment?
Bigger timeframe look