ADA/BTC: Big underperformer
Note: the leading four zero's are omitted in the text for clarity. Example: 0.00002550 is quoted as 2550.
Recent movements are classified as a consolidation phase within the longer term down trend. In other words, ADA is underperforming BTC on a significant scale. Focus remains on the target around 955 as long as the main resistance area around 1440 hovers above the market. A more aggressive approach is to maintain stops at 1325.
Trend: moderately negative
Outlook: late phase down trend, moderately negative
Strategy: avoid or hold-short with trailing stops > 1325
Support: 955*
Resistance: 1325 / 1440 / 1660
Outlook cancelled/neutralized above 1325 or 1440 (depending on your risk appetite)
Recent movements are classified as a consolidation phase within the longer term down trend. In other words, ADA is underperforming BTC on a significant scale. Focus remains on the target around 955 as long as the main resistance area around 1440 hovers above the market. A more aggressive approach is to maintain stops at 1325.
Trend: moderately negative
Outlook: late phase down trend, moderately negative
Strategy: avoid or hold-short with trailing stops > 1325
Support: 955*
Resistance: 1325 / 1440 / 1660
Outlook cancelled/neutralized above 1325 or 1440 (depending on your risk appetite)
Trade closed: target reached
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.