🔥 ADA Bearish Wedge Break Out
A couple of days ago I made an analysis about a potential upcoming break out of ADA. Take a look for reference:
For now, a couple of things can happen. BTC could fall further towards 38k-35k, or it can reverse from here. I'm currently edged towards the bullish side of BTC since we're already ~40% from the top.
Take a look at this analysis for my current view on BTC:
In case BTC reverses, the $1.85 (close of the last H4 bar) is the first hurdle to take for ADA. In case this gets taken out, a rise towards $2 is expected in the short term.
On the other hand, BTC could fall again. $1.60 and $1.50 supports are the main supports for ADA in the coming 48 hours. Something very drastic would need to happen if ADA would fall below $1.50 in the next two days. Highly unlikely.
Happy trading!
For now, a couple of things can happen. BTC could fall further towards 38k-35k, or it can reverse from here. I'm currently edged towards the bullish side of BTC since we're already ~40% from the top.
Take a look at this analysis for my current view on BTC:
In case BTC reverses, the $1.85 (close of the last H4 bar) is the first hurdle to take for ADA. In case this gets taken out, a rise towards $2 is expected in the short term.
On the other hand, BTC could fall again. $1.60 and $1.50 supports are the main supports for ADA in the coming 48 hours. Something very drastic would need to happen if ADA would fall below $1.50 in the next two days. Highly unlikely.
Happy trading!
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