$ADA is sitting right on its daily trendline, so this is one I’m watching closely.
That line has been holding since the low near 0.14. Every dip into it has bounced, and now price is back there again after coming down from the 0.27 area. It touched the line and wicked back up, which is a decent sign, but one touch doesn’t mean much yet.
What I want is a daily close above 0.21. If that happens, I think 0.24 is the first place it can go, and 0.27 if it really picks up. If it closes under the line, I drop the idea and wait.
The thing that makes me careful is BTC. It looks weak right now, and if BTC slides, ADA will most likely get dragged down with it, trendline or not. A good chart doesn’t help much when the whole market is falling.
So my honest question: do you trust a setup like this when BTC looks shaky, or do you wait for BTC to settle first?
#ADA #crypto
That line has been holding since the low near 0.14. Every dip into it has bounced, and now price is back there again after coming down from the 0.27 area. It touched the line and wicked back up, which is a decent sign, but one touch doesn’t mean much yet.
What I want is a daily close above 0.21. If that happens, I think 0.24 is the first place it can go, and 0.27 if it really picks up. If it closes under the line, I drop the idea and wait.
The thing that makes me careful is BTC. It looks weak right now, and if BTC slides, ADA will most likely get dragged down with it, trendline or not. A good chart doesn’t help much when the whole market is falling.
So my honest question: do you trust a setup like this when BTC looks shaky, or do you wait for BTC to settle first?
#ADA #crypto