Time to see if ADA will break the resistance to the bull channel

Time to see if ADA will break the resistance to the bull channel

ADA formed an open bull channel in the past days, that I am calling bull channel .
It passed the EMA 200 average as well (those who bought under the EMA 200 did a good job)

I see 3 scenarios for the next days.

1 Scenario: BTC will come back to 42k forming a double top that could lead a big dump right after that.
That could trigger ADA to break the regular channel trying to reach 0,40-0,50 level, but with the fall of BTC it will dump as well, hopefully inside the bull channel .

2 Scenario: BTC will lateralize in the next days not generating another dump.
That would make ADA stable, possibly making it stay in the regular channel not breaking up to the bull channel for now.

3 Scenario: BTC dumps before reaching a double top pattern, which would led another dump in the market.

Published at Thu, 14 Jan 2021 11:33:09 +0000

Spread the word. Share this post!

Leave a comment

Welcome to The Bitcoin Street Journal

Install
×