We've seen bullish momentum formulate in the last day and it's lead us into a strong ascending wedge pattern on the hourly chart for ADAUSD At the time of publishing, we're currently fighting a resistance zone at $2.75, I believe ADAUSD will break through this for a plethora of reasons:
We've regained the 200MA, and if continued upwards, we may see a Golden Cross forming. On the 6th of this month, we saw a Death Cross occur, which coincided with our fall to $2.00, so with the formation of this extremely bullish indicator, I believe we will observe the price become exceedingly bullish
We have one day until we see the launch of our Smart Contracts program, which may entice buyers and bring in volatility with volume
We also see a very nice ascending wedge forming, of which we've tested support 3 times, and resistance only twice.
Based upon these indicators and patterns, I'm waiting for a break in resistance to open a long position, and if BTCUSD can consolodate for this coming week, we will soon see a retest of all time highs!
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