ADA, worth the shot, great risk reward.

While Bitcoin is still making up it's mind while moving between the 6280 and 6380, ADA offers a very attractive risk reward trade. The risk is still high since Bitcoin is still in control of the bears, but there is such a clear resistance level for ADA. If it breaks it will probably make a good jump up. The volume picture looks good, so the only risk i see here is Bitcoin.

The triangle it's in now, can always go both ways, but since it's so close to this resistance, the bulls might have prepared themselves for a break out. I am risking a small amount on this trade, worth the shot, risking 2% for possible 10% target and maybe even more. I am waiting for a break of that triangle on the upside before entering this trade.

Previous analysis:

评论:

Well it made a great rally but the Bitcoin bears have take control again and the market is dropping while i am writing this. Things are not looking that great now. It was worth the shot, but i would use the first red stop level as the stop loss.