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ADA is sitting around a round number 2.0 in green so we will be looking for buy setups on lower timeframes.
on H4: ADA is forming a wedge pattern in red but the upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple)
Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone)
Meanwhile, until the buy is activated, ADA would be overall bearish can still trade lower and break below the 2.0 round number.
In this case, we will be looking for new buy setups to form as it approaches the blue support zone around 1.50
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
ADA is sitting around a round number 2.0 in green so we will be looking for buy setups on lower timeframes.
on H4: ADA is forming a wedge pattern in red but the upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple)
Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone)
Meanwhile, until the buy is activated, ADA would be overall bearish can still trade lower and break below the 2.0 round number.
In this case, we will be looking for new buy setups to form as it approaches the blue support zone around 1.50
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
This analysis is done using RichTL
www.RichTL.com
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www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Buy CRGPT on Uniswap
cutt.ly/CRGPT