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Adabtcsell

ADA/BTC: Assessing ADA's Insane Parabolic Move 2D (Jul. 27)X Force Global Analysis: If you find our analyses to be helpful, make sure to support us by dropping a ‘like’ Parabolic moves are extremely common among cryptocurrencies, as there are no market brakes like the stock market. In this analysis, we analyze ADA's insane parabolic move through the parabolic curve model, and assess its probable next moves. Analysis - Firstly, a parabolic move is normally consisted of 4 bases, or phases of consolidation - It starts with the asset consolidating and breaking out, only to consolidate at higher levels - This step continues as the asset keeps breakout out to higher levels during shorter periods of time - Eventually, this leads to the formation of a parabolic trend - In the case of ADA's BTC pair chart, we can see that it has already gone through four phases of consolidation, marked by base numbers - At the end-point of base 3, the asset is normally most likely to double. - ADA has seen a 80%+ move from the end-point of base 3. - As the parabolic trend extends, not only does ADA have a hard time reaching new highs, it also has formed a massive extended bearish divergence - The bearish divergence shows higher highs on the price and lower highs on the Relative Strength Index (RSI) - The Moving Average Convergence Divergence (MACD) shows a potential death cross as the bullish momentum weakens What We Believe We believe that ADA had a phenomenal bullish rally. However, considering the nature of parabolic trends, it's important for traders to wait for further confirmation for a bullish trend negation. Let us know what you think in the comment section below Trade Safe.
Short
by XForceGlobal
12
Cardano price analysis: Bears not letting upPrevious analysis calling for a short (sell) trade entry for Cardano can be found in the link provided below. Cardano (ADABTC) and its current bearish trend is explored in this analysis on the 4 hr time frame using one of the best tools for market analysis…trendline. Numbers marked on the chart are discussed in the commentary below: (1) Bearish trendline on the 4hr tf chart of Cardano from May 13, 2018 that is active till current date. (2) Trendline (#1) is given a greater weight in this analysis than trendline (#2) that commenced on July 18, 2018. Trendline #2 also coincides with the upper region of resistance for Cardano at ~0.00001718, suggesting that it is a price level to watch once bullish momentum returns. (3) The relative strength index (RSI) as shown here indicates a bullish divergence in Cardano with the RSI failing to confirm the new low in price currently. The bullish divergence does not automatically mean reversal of the trend, but a caution signal. Above all, this analysis considers long (buy) entry orders on a breakout above trendline #1 more conservative than long positions entered on a breakout above trendline #2. A break out above trendline #2 and also above ~0.00001718 is even better for strategies that anticipate a break out above trendline #1 and more potential upside.
A
by Coin_Analyst
Cardano(ADABTC) to continue selling off?Previous post for Cardano (ADABTC) based on its 4hr timeframe made mention of the bullish channel in Cardano (ADABTC) that captured the meandering price action from July 2, 2018. The 1 hour timeframe of Cardano (ADABTC) is shown in this analysis as opposed to the 4hr in the previous analysis in order to get a better view of price action and the channel. The horizontal dotted blue lines with price at ~0.00002181 marks the point at which Cardano (ADABTC) closed below the lower line of the bullish channel. A breakout below the lower line of the bullish channel does imply further bearish action that should see Cardano continue to sell off. A quick and approximate estimate extent of the sell off can be derived by using the width of the channel and subtracting it from the breakout point at ~0.00002181.
AShort
by Coin_Analyst
Cardano(ADABTC): Three crucial info to keep in mindThe 4hr tf of Cardano (ADABTC) is shown in this analysis and the numbers indicated on the chart are discussed below: (1) Bearish trendline on the 4hr tf that is established between May 13, 2018 and July 18, 2018. The last pivot used in drawing this bearish trendline i.e. ~0.00002612 is also the same pivot used in connecting a bullish price channel for Cardano (ADABTC) that is discussed in (3) below. (2) The region between 0.00003070 and 0.00002912 where resistance is anticipated should where Cardano (ADABTC) continue its bullish momentum. Entry into a long position that is not confirmed by momentum if and when Cardano reaches resistance as indicated could result in a potential downside. (3) Bullish price channel in Cardano (ADABTC) that is established since July 2, 2018. The lower and upper line of the channel both have a minimum of two pivots each, which means that the channel is indeed valid. Besides, both lines have been extrapolated with the upper line especially coinciding with resistance as described in (2) above. Another beneficial use of the channel is in projection of the price level to take profit if the risk/reward ratio on the trade is satisfactory and price moves above the upper line (i.e. 0.00003070) of the resistance area.
A
by Coin_Analyst