ADABTC: A Pattern With Potential - Short or Long
*Not financial advice*
ADA has not rallied nearly as hard as some other alts in this recent pull away from BTC, namely ETH, XRP and LINK.
With tight compression on the 50d and maintained expansion coming to an end on the 200d, it's likely that a sharp move happens soon.
With volume seeming dormant recently (in relation to former highs), and very similar patterns both in the momentum reading and the inverse head and shoulders patterns implying downside, this short term compression may result in a short term dump to the 200d BB. Though relatively low, this volume still implies that a lot of people may be selling ADA to trade other alt coins, especially ones that have been rallying.
ADA has not rallied nearly as hard as some other alts in this recent pull away from BTC, namely ETH, XRP and LINK.
With tight compression on the 50d and maintained expansion coming to an end on the 200d, it's likely that a sharp move happens soon.
With volume seeming dormant recently (in relation to former highs), and very similar patterns both in the momentum reading and the inverse head and shoulders patterns implying downside, this short term compression may result in a short term dump to the 200d BB. Though relatively low, this volume still implies that a lot of people may be selling ADA to trade other alt coins, especially ones that have been rallying.
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