ADA/BTC consolidating with a bull flag

18 Agu 2021

ADABTC has performed amazingly this past few days running up to the Alonzo hard fork. Potential for more upside to come.

ADABTC is currently forming a beautiful bull flag on a 1hr to 6hr timeframe.
Bull flags are continuation patterns and therefore this can lead to more upside.

ADABTC is currently holding the 0.618 fib retracement level. If this does not hold on a higher timeframe like the 6hr to daily then consider this trend reversal and close longs.

For leveraged trades setups:

Entry: 0.00004106 to 0.00004467 (Average in)

Take Profits 1: 0.00005045
Take Profits 2: 0.00006114
Take Profits 3: 0.00006336 - 1.618 fib extension target

Stop loss: If the 0.168 does not hold on a higher timeframe like the 6hr to daily then consider this trend reversal and close longs.