$ADA is in process of making Descending Triangle | Another Breakout is expected

[cryptokraze]

CryptoKraze Technical Analysis

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In this post I am going to cover technical analysis of $ADA for short term trade. I am using tradingview charts and price linked to Bittrex exchange. Let's have a look on technical aspects of $ADA.

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Possibility on 4 Hour Chart

If you look at 4 hour chart, you will see $ADA has formed a descending triangle and likely to breakout. This is very common pattern in crypto currencies, whenever a coin makes this descending triangle, a breakout is imminent that might happen anytime soon. If we look at RSI, it has touched 70 level and has dipped below 50 level. It has to rise up to touch 70 level again.

• I have a buy entry at 0.00004800 with my profit target will be around 0.00006200 and 0.00007000 or above.
• Stop loss just below the entry area is must for trading if you don't know the Averaging Technique in Crypto Trading.

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Have a look on my other Posts

Breaking Barriers with Steem Education Initiative

SEI Rewards System for Members | Post of the Day Promotion |

Averaging Technique in Crypto Trading

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Disclaimer
Crypto Trading is risky business and you can loss partial or full amount of money. Trade at your own risk with that money only you can afford to lose. Bitcoin unexpected move will make this analysis void.

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Comments

[tufi]

useful sharing

[riyad11]

valusble post about crypto.you always share basic information..thats why i apricate your post.
thanks for sharing...

[johnmarks]

bitcoin is best.also blockchain
thanks for the valuable information
carry on

[rasel786]

bitcoin is amazing currency in the world

[clarkk]

You are right.on that speculation. But let's not forget in a hurry that those that haven't believed on statistical chart on bitcoin,its time they do we are now going close to the month of moon on the bitcoin value. So for every investor on bitcoin,get your seat belt on as we go sky rocketing because from last night news on crypto market, bitcoin has really been getting into the trade market topping the chart with EThereum following so,and top developed nations as russia,Germany,Japan has been in trade within their country on bitcoin. So let's get our investment on,its a plus for bitcoin and suppose good crypto currencies investors that might have a push up too..thanks for sharing this info