FieryTrading

đŸ”„ ADA Potential Channel Bounce

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BINANCE:ADAUSDT   Cardano / TetherUS
ADA has been in this channel for quite some time now. According to the chart, ADA could potentially reverse at any time now and continue thus bullish channel upwards. On the other hand, this can only happen if Bitcoin will perform more bullish in the short term.

Before entering this trade wait for the price to close above the Entry line. Higher time frames yield a higher predictive power.

On the chart I’ve marked two potential areas of resistance, R1 and R2. These areas are based on recent swing highs round numbers. Do your own due diligence.

Happy trading!

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