Hi everyone 👋🏽
🕊 Wish y'all have a profitable lifestyle 🍀
📌 ADABTC- Weekly Time Frame - Candlestick
📌 Price Action - Fibo - RSI Divergence
📍ADABTC 's chart is not looking very good in every time frame from weekly to 2H. It is completely bearish in every aspect
📍 Price may have already finished its 5th cycle in the white horizontal line and it may see the 0.38% fibo , 0.5% and 0.618% which is the most important one.
✍🏼 A very powerful hidden divergence RSI is very visible to see in the weekly time frame which has already taken the price down
⚠️ HOWEVER, you should not consider this TA as a bearish sign for the ADAUSDT pair itself because it is based on ADABTC pair, and it has 3 meanings:
1- ADA 's price is dumping faster than BTC 's price (Both are going down together, but ADA faster🐻)
2- ADA is not growing as fast as BTC (Both are going up, but BTC faster 🦬)
3- ADA is dumping and BTC is pumping (ADA is going down and BTC is going up)
✍🏼 From EMA point of view, in weekly time frame price has broken 50 EMA and is going as fast as possible to hit the 100 EMA, which is overlap with 0.38% fibo level
✍🏼 In daily time frame a negative cross may occur between 200 and 100 EMA and can be a bearish signal for long term
THIS IS NOT A FINANCIAL ADVICE
PLEASE DO YOUR OWN RESEARCH BEFORE TAKING ANY SELL OR BUY POSITION
GOOD LUCK
NP TRADER
🕊 Wish y'all have a profitable lifestyle 🍀
📌 ADABTC- Weekly Time Frame - Candlestick
📌 Price Action - Fibo - RSI Divergence
📍ADABTC 's chart is not looking very good in every time frame from weekly to 2H. It is completely bearish in every aspect
📍 Price may have already finished its 5th cycle in the white horizontal line and it may see the 0.38% fibo , 0.5% and 0.618% which is the most important one.
✍🏼 A very powerful hidden divergence RSI is very visible to see in the weekly time frame which has already taken the price down
⚠️ HOWEVER, you should not consider this TA as a bearish sign for the ADAUSDT pair itself because it is based on ADABTC pair, and it has 3 meanings:
1- ADA 's price is dumping faster than BTC 's price (Both are going down together, but ADA faster🐻)
2- ADA is not growing as fast as BTC (Both are going up, but BTC faster 🦬)
3- ADA is dumping and BTC is pumping (ADA is going down and BTC is going up)
✍🏼 From EMA point of view, in weekly time frame price has broken 50 EMA and is going as fast as possible to hit the 100 EMA, which is overlap with 0.38% fibo level
✍🏼 In daily time frame a negative cross may occur between 200 and 100 EMA and can be a bearish signal for long term
THIS IS NOT A FINANCIAL ADVICE
PLEASE DO YOUR OWN RESEARCH BEFORE TAKING ANY SELL OR BUY POSITION
GOOD LUCK
NP TRADER
Trade closed: target reached:
Keeping an eye on ADA/BTC chart for higher highs
Trade active:
I will be looking more carefully at ADA/BTC chart for this week
If the price showed some bullish confirmations as : double bottom , I will consider this chart
If the price showed some bullish confirmations as : double bottom , I will consider this chart