My previous analysis was expecting ADA to explode. However, it seems the big players played buy the rumour sell the news. I am now growing less confident in the imminent pump of ADA. To clarify, it is an excellent holding for the next four months. I am talking for short term trades for 2-3 weeks.
Although there are few excellent bullish signs, such as the bullish engulfing below the support (highlighted), the major timeframe is heavily oversold (stoch rsi). I cannot stop heaving that feeling that one last drop is imminent. Bearish signs are many as well. With the short-term indicators getting overbought, the weekly stoch rsi formed a bearish cross on the overbought area, volume very low on the bullish engulfing and mainly a Head n Shoulder in the four h frame. Hence as a precautionary move, I will exit ADA on the next move to the 50VWMA (short term funds). I will re-enter if the diagonal dynamic resistance trendline is violated with an opening and close above it.
Just bear in mind that my final target for ADA is 20 dollars in the next 4 - 5 months, so I am not touching my long-term holdings.
Feel free to share your opinion
Although there are few excellent bullish signs, such as the bullish engulfing below the support (highlighted), the major timeframe is heavily oversold (stoch rsi). I cannot stop heaving that feeling that one last drop is imminent. Bearish signs are many as well. With the short-term indicators getting overbought, the weekly stoch rsi formed a bearish cross on the overbought area, volume very low on the bullish engulfing and mainly a Head n Shoulder in the four h frame. Hence as a precautionary move, I will exit ADA on the next move to the 50VWMA (short term funds). I will re-enter if the diagonal dynamic resistance trendline is violated with an opening and close above it.
Just bear in mind that my final target for ADA is 20 dollars in the next 4 - 5 months, so I am not touching my long-term holdings.
Feel free to share your opinion
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منشورات ذات صلة
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.