Wyckoff Analysis - ADABUSD 1H
Current trend still shows accumulation trend albeit it is not as clear as usual.
My thoughts on the root causes:
- a re-accumulation is occurring which is not as evident and inherently shows mixed signals
- it is shadowing BTC causing to spike up or down
If signal is correct, we are heading for sideways movement into a strong bullish market.
This coincides with 2 upcoming events:
- listing on coineal (weak bullish signal)
- ADA becomes 100% decentralised (strong bullish signal)
Market is very volatile right now, so trade carefully.
Best of luck!
Current trend still shows accumulation trend albeit it is not as clear as usual.
My thoughts on the root causes:
- a re-accumulation is occurring which is not as evident and inherently shows mixed signals
- it is shadowing BTC causing to spike up or down
If signal is correct, we are heading for sideways movement into a strong bullish market.
This coincides with 2 upcoming events:
- listing on coineal (weak bullish signal)
- ADA becomes 100% decentralised (strong bullish signal)
Market is very volatile right now, so trade carefully.
Best of luck!
Trade closed: target reached:
ADABUSD indeed went sideways, but much much longer than I had anticipated (5 days). This is a strange behaviour that I only see in ADABUSD. After the long consolidation, the target to 1.28USD was reached.