ADAUSD - rising wedge
ADA looks to be forming a rising wedge with decreasing volume.
I'm looking for a breakdown to the first support area of $1.10-$1.04, if that should fail, next support area would be $0.94-$0.84; additionally, ADA can't get a daily close above resistance, $1.65.
rising wedges are one of the worst performing chart patterns so there is a chance price could break upwards; however, given the current market structure and the # of shorts out on BTC right now, I would expect a move to one of the support areas below current price.
not trading advice
tg
I'm looking for a breakdown to the first support area of $1.10-$1.04, if that should fail, next support area would be $0.94-$0.84; additionally, ADA can't get a daily close above resistance, $1.65.
rising wedges are one of the worst performing chart patterns so there is a chance price could break upwards; however, given the current market structure and the # of shorts out on BTC right now, I would expect a move to one of the support areas below current price.
not trading advice
tg
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