After having a little fake out ADA finally looks ready to rise sustainably.
The daily bullflag ist still valid and the 1200ish zone proves to be a reliable support.
If ADA preferred to take the way down it would've already happened i guess.
For me the fake out looks more like begging for upward momentum rather than a real bull trap, which should've pulled the price below the support.
In any case the way upwards has some significant obstacles.
In the 1300 to 1400 range a couple of big stacks of more than 1 million ADA each have been placed (on Binance).
Let's wait and see ...
Critics and ideas on my analysis are welcome!
The daily bullflag ist still valid and the 1200ish zone proves to be a reliable support.
If ADA preferred to take the way down it would've already happened i guess.
For me the fake out looks more like begging for upward momentum rather than a real bull trap, which should've pulled the price below the support.
In any case the way upwards has some significant obstacles.
In the 1300 to 1400 range a couple of big stacks of more than 1 million ADA each have been placed (on Binance).
Let's wait and see ...
Critics and ideas on my analysis are welcome!