ADAUST trade ideas
Cardano short term chartTo most people, this would have looked like an inverse head and shoulder pattern but if you notice the left shoulder you will see that the lower wick is much lower than the head and hence once the price reached 1.8 USDT it did not break through. However, this is a bullish divergence pattern with lower highs and higher lows.
Road Ahead? We look for patterns everywhere, this could be potentially a big one, lets hope for the best :) trade safe
Cardano (ADA) Trade IdeaCardano (ADA) needs to close above 1.82 mark and sustain the price above that supply
ADA is very bullish during this bull run and it doesn't get affected with btc correction
once it close above that level it could easily reach ATH (2.40)
💡Don't miss the great buy opportunity in ADAUSD @Cardano
Trading suggestion:
". There is a possibility of temporary retracement to the suggested support line (1.6461).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. ADAUSD is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 64
Take Profits:
TP1= @ 1.8731
TP2= @ 2.0190
TP3= @ 2.1452
TP4= @ 2.2635
TP5= @ 2.4377
SL= Break below S2
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Ada/usdt BinanceCardano looking good with great recovery & holding support area's, If BTC continues holding supports without any major dumps then cardano Maybe possibly retest ATH again...!!
Cardano reaching support Ada is near lower support.
When price reaches support, We can prepare for a long trade to 1.59s
Wyckoff accumulation in CARDANOHere is a slight possibility that ADA follows the Wyckoff Accumulation, though I have preferred the close of candles over the highs and lows.
#adausdt analysisThe strong dump has formed a head of HNS pattern, if successfully forms HNS pattern and breaks neckline, we could see $1 again.
This level is very important and needs to hold above the right shoulder to make HNS pattern invalid. seems difficult for that.
Only the King(BTC) can show some mercy
Regards
ada retraces the bullish impulsethe chart goes to create a wave2 and then would be ready to continute the bull run
How to Draw Fibonacci Channels
Fibonacci Channels are used to determine fibonacci support and resistance levels within an identified trend.
These channels can easily be drawn in both uptrends or downtrends to find potential areas where price action could change.
Uptrend
When drawing a Fibonacci Channel on an uptrend, a clearly identified trend needs to be established with higher lows being created.
To draw the channel, first select the two low points on the trend, and then the high point in-between them.
After the channel is drawn, the Fibonacci levels calculated can be used to help speculate price action by watching these areas as support or resistance.
Downtrend
When drawing a Fibonacci Channel on a downtrend, a clearly identified trend needs to be established with lower highs being created.
To draw the channel, first select the two high points determined by the trend, and then the low point in-between them as shown below.
Do you use Fib Channels?
If so, share your ideas in the comments below!
