ADABTC Ascending Triangle + Hidden Bullish Divergence
ADABTC on the 1H chart is forming an ascending triangle. Plus, hidden bullish divergence can also be seen on the RSI. Once the price breaks out of the triangle on the upside and volume supports it, theoretically, we can see a price rise equivalent to the opening of the triangle which is about 800 satoshis.
Once the price breaks out of the triangle, we will look at the volume. If the volume increases as well then that would confirm the breakout and then a long trade can be opened with a conservative profit target of 500 satoshis.
Personally, I am feeling bullish on ADA. The coin is in the top ten of CMC and Coingecko. Currently, third highest volume on Binance and highest volume on Bittrex. I have already entered a long trade at 3898 satoshis. I won't mind hodling if the ascending triangle breaks in the wrong direction so I do not have a stop-loss at the moment.
My first target is 4287 and second profit target is 4677.
Constructive criticism is welcomed!
Once the price breaks out of the triangle, we will look at the volume. If the volume increases as well then that would confirm the breakout and then a long trade can be opened with a conservative profit target of 500 satoshis.
Personally, I am feeling bullish on ADA. The coin is in the top ten of CMC and Coingecko. Currently, third highest volume on Binance and highest volume on Bittrex. I have already entered a long trade at 3898 satoshis. I won't mind hodling if the ascending triangle breaks in the wrong direction so I do not have a stop-loss at the moment.
My first target is 4287 and second profit target is 4677.
Constructive criticism is welcomed!
Penafian
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