BarrenWaffe
Long

ADA/BTC UPDATE: Bigger picture

BITTREX:ADABTC   Ada / Bitcoin
My former post has been showing a completed wedge . This wedge now extended to a larger wedge where ADA bounced off 2 times off the strong support line @4935 Sats             . It has also been hitting the fibo retracement lines almost perfectly during the ABCDE correction. Now the price is getting squeezed in by the upper wedge resistance line and the strong support line which indicates a breakout. Furthermore MACD and volume look quite bullish .
Considering BTC's current correction phase there is still the possiblity that is drops down to the next support level @2550 Sats             which also fits well into the fibonacci correlation. It also could mean that after wave 1 there will be some longer wave 2 until it synchronizes with BTC's uptrend.
Good opportunity to set buy orders above the strong support. Setting a SL is mandatory!
Nice anaylsis
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Thanks for sharing!
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