ADA/BTC Turns Bullish? (+58% Potential Profits)
Hello Traders,
As we can see here on the daily time frame for Cardano (ADA) on Binance, there may be a potential breakout from the falling wedge being printed since the peak of the large bullish wave. As we can see, ADA had peaked around 1600 satoshi on its last rally. Additionally, we can see an even bullish flag/wedge of sorts forming over the last week or so. The immediate targets for this are marked by the green arrows, around 1100 satoshi.
This coin has printed a higher low (blue box) and broken back above the 10, 21, 50, and 200 EMAs, and is now pushing to break out above the 100 EMA. We have nice, increasing buy volume coming in. The MACD and RSI have also both been rising steadily, adding to the bullish sentiment. As such, I am strongly bullish on this coin.
I am already in a long position for this coin, but a potential short-to-mid term trade setup now could be:
Entry: 900-1000
Support: 750-850
Take Profits:
1 - 1100 (+12%)
2 - 1315 (+36%)
3 - 1525 (+58%)
Share your own thoughts and comments down below. Also, leave a like if you liked the post and follow me for more ideas!
Price at writing: 959 satoshi.
As we can see here on the daily time frame for Cardano (ADA) on Binance, there may be a potential breakout from the falling wedge being printed since the peak of the large bullish wave. As we can see, ADA had peaked around 1600 satoshi on its last rally. Additionally, we can see an even bullish flag/wedge of sorts forming over the last week or so. The immediate targets for this are marked by the green arrows, around 1100 satoshi.
This coin has printed a higher low (blue box) and broken back above the 10, 21, 50, and 200 EMAs, and is now pushing to break out above the 100 EMA. We have nice, increasing buy volume coming in. The MACD and RSI have also both been rising steadily, adding to the bullish sentiment. As such, I am strongly bullish on this coin.
I am already in a long position for this coin, but a potential short-to-mid term trade setup now could be:
Entry: 900-1000
Support: 750-850
Take Profits:
1 - 1100 (+12%)
2 - 1315 (+36%)
3 - 1525 (+58%)
Share your own thoughts and comments down below. Also, leave a like if you liked the post and follow me for more ideas!
Price at writing: 959 satoshi.
