Great set up. Small ascending triangle breakout has already occurred and support holding thus far at 3400 for a nice size gain.
Larger Pattern: Rounded bottom, possible cup and handle. See the blue star break out point at 3500 Sats.
Target Price: 5,300 Satoshis
50/200 Moving Average sloping upward.
As always, pay close attention to Bitcoins performance. Adjust your stop losses and position as the chart moves. Play the chart, don't let the chart play you.
Please press the play button on my related charts for verification of previous Analysis.
Please Throw me a FOLLOW and/or Like. Much Appreciated.
@karlkrawall, how does the current drop play into your analysis?
arlisjohnson3
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@karlkrawall, If your goal is to increase your Bitcoin BTC value holdings, then the breakout point that has the least risk for entry remains the same. However, with a strong likelihood that bitcoin is due for a large run (as altcoins have been stealing the show), the result would be ADA decreasing (or not increasing quickly) in BTC value. However, If your goal is to increase your fiat/USD value then we need to look to the ADAUSD charts (translated by trading view due to ADA not trading against USD).
I'll work a quick chart up as I need this information as well. Thanks for the feedback and question.
karlkrawall
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@arlisjohnson3, awesome, thanks for the reply, Arlis! I do look at both, ADABTC and the ADAUSD chart you mention, but I'm interested in the latter, since ADA-USDT pair is now tradable on Binance. Thanks for the charts, cheers!
arlisjohnson3
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@karlkrawall, nice. Did not realize binance added the pair. Great info!