I personally believe that ADA is the land of infinite triangles.
Before the dip, we had assumed the coin was in an ascending triangle pattern. After our little dip/correction yesterday, ADA's path has now transformed into a symmetric triangle. While the previous triangle was targeting just before Christmas (the 24th,) it looks like we're looking at a breakout on the 26th, 27th at the latest.
The Ichi cloud confirms sideways movement for the next few days.
Sorry about any inaccuracy with the triangle, touchpads on laptops are not my friend.
Thanks for sharing :)
Regarding the daily chart, I assume ADA price will first go down very slightly and then consolidate before the next big move.
For the moment I'm out, watching for the next BTC moves, I pray god we don't see a bull trap and then bubble burst. Anyway now I'm watching and ready to enter ADA again and follow de trend !
qr8v
⋅
so you recommend to buy and hold ? or something else ?
spacemonkeey
⋅
@aryanqr8v, I personally never trade during sideways action. However, I believe this will break above, so if you are looking to accumulate, now may be a good time.
HOWEVER... we are not out of the woods with Bitcoin. We may be experiencing a bull trap right now and it could possibly top out and then shoot further back down, inevitably bringing all other coins with it. So trade with caution!
spacemonkeey
⋅
@aryanqr8v, actually let me clarify: I never trade until I see a clear break from the triangle. By clear, I mean there's been a bit of time either above or below and doesn't come back into the triangle soon after breakout.
qr8v
⋅
@spacemonkeey, i just buy ada for huge potential and the whitepaper and their team and their work . their team is amazing . i don't buy because chart analyse . is that incorrect in this market ?
UnknownUnicorn995743
⋅
@aryanqr8v, i agree with you 100% fundamentals is what ultimately drives prices.
Regarding the daily chart, I assume ADA price will first go down very slightly and then consolidate before the next big move.
For the moment I'm out, watching for the next BTC moves, I pray god we don't see a bull trap and then bubble burst. Anyway now I'm watching and ready to enter ADA again and follow de trend !