ADAUSD: Highly bullish in the next few months
ADAUSD appears to be a golden opportunity at the moment.
As it can be seen from the chart there are several very bullish patterns:
- Double bottom (2nd bottom is a higher low) possibly making an Eve (rounded first bottom) - Adam ( V shaped bottom) double bottom.
- Current price action is in the terminal stages of a 4-months long falling wedge. Breakout should be powerful.
Some indicators confirming the upcoming breakout:
- OBV rising creating a bullish divergence indicating that smart investors are accumulating.
- MacD creating a bullish divergence and soon to cross the 0 line to start a positive trend.
Profit target:
1st: $0.20
2nd: $0.38
As it can be seen from the chart there are several very bullish patterns:
- Double bottom (2nd bottom is a higher low) possibly making an Eve (rounded first bottom) - Adam ( V shaped bottom) double bottom.
- Current price action is in the terminal stages of a 4-months long falling wedge. Breakout should be powerful.
Some indicators confirming the upcoming breakout:
- OBV rising creating a bullish divergence indicating that smart investors are accumulating.
- MacD creating a bullish divergence and soon to cross the 0 line to start a positive trend.
Profit target:
1st: $0.20
2nd: $0.38
Comment:
Still on track!