ADA - Gearing Up for a Breakout?

23 thg 12, 2024

After an impressive rebound from the trend-based Fibonacci extension 1:1 at $0.7655, ADA has been consolidating between $0.92 and $0.85 for the past two days. As the new week begins, today's wOpen at $0.8834 is a critical support level, perfectly aligning with the key level at $0.8806. Holding above these levels reinforces a bullish outlook.

Key Insights and Trade Setups:

Support Zones to Watch:

• $0.8834 (wOpen) and $0.8806 (Key Level).
  

• Maintaining above these levels keeps the bullish structure intact.
  

Long Setup Options:

• A great long opportunity was from today’s wOpen ($0.8834).
  

• Alternatively, wait for a retracement to the golden pocket at $0.8877 of this current wave.
  

• R:R: 2.5, a solid potential reward for the risk taken.
  

Target for Long Trades:

• Aim for the Fibonacci 0.618 level at $0.9448, which aligns with the daily resistance level.
  

• This zone also represents a high-liquidity area where short sellers may be forced to exit positions.
  

Pattern Confirmation:
The potential formation of an Adam and Eve pattern strengthens the bullish case. Confirmation comes above $0.9155, suggesting further upside.

23 thg 12, 2024

Giao dịch được đóng thủ công

Trade closed, too much much selling pressure.

24 thg 12, 2024

Ghi chú

Successful long trade with an almost perfect TP hit