Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT
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Elliot Wave Price Forecast
I think, ADA has a good Risk/Reward. A potential 100% gain on spot trade but be careful on what Bitcoin will do. I think the first two weeks of December 2020 is a green weeks while the 3rd and 4th week is a potential profit taking before Christmas and New Year. Last week, ADA has dumped by 39% while Bitcoin dumped by 17%. Right now, it recover the losses and makes the weekly closed on a bullish spinning top candle which means there is a lot of buyers willing to take the risk. If Bitcoin pump further to 21K or even to 25K, I think ADA will follow after or pumps together with Bitcoin. I think ADA is still on a larger wave 1 while Bitcoin is in a larger wave 3. So, if everything is fine, this coin may outperform Bitcoin in terms of gains in the future.
1W
After 5 days of pumping hard, ADA has give a very heavy pullback to EMA 21 in weekly time frame. I think in the succeeding weeks, I may no longer test EMA 9 or EMA 21 considering that solid dump of 39% last week then making a bullish spinning top. There is a higher probability that ADA is ready for uptrend. There is Hidden Bullish Divergence on RSI, Stoch RSI and MACD
1D
Bullish Convergence on RSI, Stoch RSI and MACD.
4HR
Bullish Convergence on RSI, Stoch RSI and MACD.
1HR
Bullish Convergence on RSI, Stoch RSI and MACD.
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Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT
_____
Elliot Wave Price Forecast
I think, ADA has a good Risk/Reward. A potential 100% gain on spot trade but be careful on what Bitcoin will do. I think the first two weeks of December 2020 is a green weeks while the 3rd and 4th week is a potential profit taking before Christmas and New Year. Last week, ADA has dumped by 39% while Bitcoin dumped by 17%. Right now, it recover the losses and makes the weekly closed on a bullish spinning top candle which means there is a lot of buyers willing to take the risk. If Bitcoin pump further to 21K or even to 25K, I think ADA will follow after or pumps together with Bitcoin. I think ADA is still on a larger wave 1 while Bitcoin is in a larger wave 3. So, if everything is fine, this coin may outperform Bitcoin in terms of gains in the future.
1W
After 5 days of pumping hard, ADA has give a very heavy pullback to EMA 21 in weekly time frame. I think in the succeeding weeks, I may no longer test EMA 9 or EMA 21 considering that solid dump of 39% last week then making a bullish spinning top. There is a higher probability that ADA is ready for uptrend. There is Hidden Bullish Divergence on RSI, Stoch RSI and MACD
1D
Bullish Convergence on RSI, Stoch RSI and MACD.
4HR
Bullish Convergence on RSI, Stoch RSI and MACD.
1HR
Bullish Convergence on RSI, Stoch RSI and MACD.
Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT
Comment:
We're dumping. Just focus on Weekly time frame
Comment:
Other TAs;
Comment:
From Short to Long for now.
