AdEx / BitcoinMis à jour ADXBTC - Kumo E2E and Upcoming Resistance Levels
During BTC's bull run, ADXBTC breached a long-term support and price suffered as a result.
Since then, it has steadily been building an uptrend support and recently had a strong move up into the Kumo Cloud.
There are at least two possible scenarios here.
1) The close inside the Kumo is actually a bull trap and ADXBTC will bleed back down towards the support trendline at the bottom of the chart.
2) The Kumo edge-to-edge is valid.
If (2) is true, there are two further things to look for.
2a) Price breaching the blue box. This is a key level because if price can trade above the box, it would signify a break above a key support level (now resistance) and also a Kumo breakout.
2b) Price testing the longer-term diagonal downtrend line. The rocket icon is there for a reason. Namely, if price is able to breach and trade above the downtrend line, I would expect significantly more upside and a 'real' trend reversal.
Since then, it has steadily been building an uptrend support and recently had a strong move up into the Kumo Cloud.
There are at least two possible scenarios here.
1) The close inside the Kumo is actually a bull trap and ADXBTC will bleed back down towards the support trendline at the bottom of the chart.
2) The Kumo edge-to-edge is valid.
If (2) is true, there are two further things to look for.
2a) Price breaching the blue box. This is a key level because if price can trade above the box, it would signify a break above a key support level (now resistance) and also a Kumo breakout.
2b) Price testing the longer-term diagonal downtrend line. The rocket icon is there for a reason. Namely, if price is able to breach and trade above the downtrend line, I would expect significantly more upside and a 'real' trend reversal.
Note
Played out beautifully.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.