ADA/USD - Consolidation first - and this is the BULLISH scenario
The movement on a daily has been fairly typical of a bullish fx. Price action has approached this incredibly thick cloud you see. Had ADA not done what it did yesterday, there would be little argument to make for continued bullishness. In the coming days, there will be strong negative pressure with each attempt to get anywhere close to the ATH. The bottom will probably be seen somewhere 6-7 days after the peak on 4/13. The lines are very rough but I think you get the picture. And this is the BULLISH scenario for ADA. that bottom will go way lower than 80 if it were to actually go bearish. My position is a nice big short from 155.50.
This appears to be a fake breakout because of the Coinbase public listing and everyone feeling high.
You can see very similar price action to what FIL filecoin went through 2 weeks ago when it hit ATH.
For ADA - 150 might still be be tested if 148 earlier today was not that attempt. Going forward the price will not reach this point again in the next several weeks. A big bottom next week and then it will drag on sideways slightly up like these things do.
That is if BTC doesn't crash by over 50%, which it certainly can and should, and it will likely coincide with the US stock market crash. The fundamentals are primed and ready for an enormous correction in the US economy, which will affect the entire world.
This appears to be a fake breakout because of the Coinbase public listing and everyone feeling high.
You can see very similar price action to what FIL filecoin went through 2 weeks ago when it hit ATH.
For ADA - 150 might still be be tested if 148 earlier today was not that attempt. Going forward the price will not reach this point again in the next several weeks. A big bottom next week and then it will drag on sideways slightly up like these things do.
That is if BTC doesn't crash by over 50%, which it certainly can and should, and it will likely coincide with the US stock market crash. The fundamentals are primed and ready for an enormous correction in the US economy, which will affect the entire world.
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