ADA/BTC Cardano Long Breakout Opportunity

ADA has pulled back to it's 78.6% Fibonacci and it's long term trendline. This is a great Buy Zone area. I have used the Fibonacci to project the target which matches perfectly with the parallel Flag Target derived from measuring the move up and projecting it from the flag breakout. When combined with the Fibonacci to get the same target (the 127.2% Fibonacci), this is very strong and the probability of reaching this and pulling back is very high. My recommendation is to either wait for a slight pullback here onto the long term trendline or wait for the flag to break before going long. It's not advisable to buy at flag resistance.

Commentaire:

Looks like the market is heading towards the outer trend line which could be an opportunity to add to the trade