ADAUSD - short-term bear over weekend and start of next week
This analysis is by no means a guide to just ape in and hold without checking the charts every hour or so.
I would not be surprised if ADA decided to find some refuge ~10% lower than the publish time.
This is the daily chart on ADAUSD, showing some indecision dojis but ideally I'd like to re-enter around 2.6 to 2.65, or rotate some of my ETH into ADA.
Will publish a chart for ADAETH later today to discuss some interesting ranges to explain my reasoning, but in order for ADA to make more explosive
gains on smart contract release, I hope to see strong support in this 2.57 to 2.64 range (indicated red horizontals), to build a double bottom and
breakout from a flag.
ADAETH displayed a massive arbitrage trade during the last ETHUSD pump to 4k (which almost fit my previous analysis of ETHUSD, albeit took time).
In the ETHUSD hours where it pumped to 4k, interestingly, most other major alts displayed the same attitude, as well as CHZ and XTZ (which I was
looking to enter a short-term short amidst all the NFT noise).
I would not be surprised if ADA decided to find some refuge ~10% lower than the publish time.
This is the daily chart on ADAUSD, showing some indecision dojis but ideally I'd like to re-enter around 2.6 to 2.65, or rotate some of my ETH into ADA.
Will publish a chart for ADAETH later today to discuss some interesting ranges to explain my reasoning, but in order for ADA to make more explosive
gains on smart contract release, I hope to see strong support in this 2.57 to 2.64 range (indicated red horizontals), to build a double bottom and
breakout from a flag.
ADAETH displayed a massive arbitrage trade during the last ETHUSD pump to 4k (which almost fit my previous analysis of ETHUSD, albeit took time).
In the ETHUSD hours where it pumped to 4k, interestingly, most other major alts displayed the same attitude, as well as CHZ and XTZ (which I was
looking to enter a short-term short amidst all the NFT noise).
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