ADA Breakdown, I don't think we are out of the woods just yet.
Currently ADA is looking great and is fairly bullish.
At the moment we are seeing strong resistance in breaking through the 1.50 range.
To scenarios are at play here....
If we do breakout, a fib extension to the 1.70-1.75 range is almost certain. Wait for the confirmation after 1.50 resistance is broken to make this assumption.
On the other hand,
If we are rejected at this 1.50 resistance level, we may revisit 1.20, potentially 1.00...
All of this is inside of the massive triangle so if 1.70 range is hit expect serious horizontal resistance.
Finally, I do believe that within this triangular pattern we will see 1.00 again before we breakout upwards beyond 1.70.
Just take it all with a grain of salt and trade wisely, volatility is bound to get wild.
Consolidation period will most like end in Feb - Mar range and we will start toward the ATH again
At the moment we are seeing strong resistance in breaking through the 1.50 range.
To scenarios are at play here....
If we do breakout, a fib extension to the 1.70-1.75 range is almost certain. Wait for the confirmation after 1.50 resistance is broken to make this assumption.
On the other hand,
If we are rejected at this 1.50 resistance level, we may revisit 1.20, potentially 1.00...
All of this is inside of the massive triangle so if 1.70 range is hit expect serious horizontal resistance.
Finally, I do believe that within this triangular pattern we will see 1.00 again before we breakout upwards beyond 1.70.
Just take it all with a grain of salt and trade wisely, volatility is bound to get wild.
Consolidation period will most like end in Feb - Mar range and we will start toward the ATH again
Trade active:
Friends, it appears that we have been rejected. small time frame shorts are in play.
Be wary and stay limber, I am betting a retest of 1.50 before 1.20.
75% TP short target is 1.385
We will see what happens with the remaining 25%
Be wary and stay limber, I am betting a retest of 1.50 before 1.20.
75% TP short target is 1.385
We will see what happens with the remaining 25%