Ada - bullish and awaiting first re-trace opportunity

23 sept 2018

Hello!

Currently in cardano we have seen a nice surge from the double bottom trend reversal.

We have made it up and past the first major support/resistance milestone in my view of the .236 fib at .00001356 sats. This is where Ada needs to establish its self.

The 1 day chart looks pretty good in terms of indicators. RSI looks great, so does MACD. There has been a nice solid uptrend established from the bottom as pictured. Volume has been very good to us.

The 4 hour chart is currently showing a bearish divergence, but in events past we have seen Cardano blast through bearish divergences on the 4 hour chart initially until it does find the spot that it wants to re-trace from.

I have put up the fibonacci levels of where we could re-trace from at this point if we don't continue up first. Also, if we were to do a .50 fib or .618 fib retracement right now in Ada, the 1 day chart would look like a cup and handle. I like those apples!

Please let me know what you think!

Thank you!

23 sept 2018

Nota

Bearish divergence on 4 hour signaling a likely retrace in the not so distant future. We may have another leg up to go before that happens.

24 sept 2018

Nota

Respecting the trend line so far.

24 sept 2018

Nota

4 hour candle has not closed yet, but we are getting a trend break, bearish divergence on both MACD and RSI...MACD bearish cross. This may be our re-trace.

26 sept 2018

Nota

Kind of concerned here because it looks like head and shoulders forming on the 4 hour, you can also see it on the 4 hour RSI.