ADA - Time For A Bounce

This thread correlates with my linked BTC thread and is all on the back of BTC having a bounce. I think there is a reasonable chance BTC has a fast fakeout slump before the bounce but allowing for that with a wide stop on ADA - here is my setup.

ADA seems an obvious choice to trade for a bounce:

Currently it sits in the green support channel that has previously held price well.
Daily RSI is overbought and showing some bullish divergence.
MACD is curling up with histogram moving above the 0 point.
Inside fibonacci projection (1:1) hits current support area and good chance is a sign of reversal.

Target is the 0.618 retracement area $2.13 up to $2.4 for overshoot, but if it gets there I might let some of the trade run a bit and wait for sign of reversal.

Not advice.

Anmerkung

On 3 day chart ADA has lowest RSI since March 2020 and lowest MACD ever.

Anmerkung

Looks like ADA is breaking out here.

ThinkFastTrades

Broker I use: Vantage ✨
vigco.co/la-com-inv/8g5DVv78
Private Group | $50/month 💡
Contact | t.me/ThinkFastTrading

Auch bei:

Verbundene Veröffentlichungen

BITCOIN - Will Probably Bounce Soon

von ThinkFastTrades

Haftungsausschluss

Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.

ThinkFastTrades

Broker I use: Vantage ✨
vigco.co/la-com-inv/8g5DVv78
Private Group | $50/month 💡
Contact | t.me/ThinkFastTrading