I believe ADABTC has put in a reversal on the 1D chart, signalling that dips are for buying.
Technical reasons for the trade:
→ Price spent a few days below the 1D 200MA before quickly powering back up on volume.
→ Confirmed bullish div - Histogram and RSI.
→ Fisher bullish div + buy signal on 25th September.
→ OBV back above its 13EMA.
→ Bullish engulfing candle on the weekly.
✗ Price hasn't yet given us a nice market structure on the daily chart.
✗ Big VPVR notch below, if bulls don't step up and price fails to remain above the 1D 200MA - we could see a drop down to 682 sats.
✗ 1D 200MA has yet to be retested as support.
✓ Aggressive traders can look to long all pullbacks.
✓ Safer traders can look to long when/if 1D market structure is established.
Good luck!
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Technical reasons for the trade:
→ Price spent a few days below the 1D 200MA before quickly powering back up on volume.
→ Confirmed bullish div - Histogram and RSI.
→ Fisher bullish div + buy signal on 25th September.
→ OBV back above its 13EMA.
→ Bullish engulfing candle on the weekly.
✗ Price hasn't yet given us a nice market structure on the daily chart.
✗ Big VPVR notch below, if bulls don't step up and price fails to remain above the 1D 200MA - we could see a drop down to 682 sats.
✗ 1D 200MA has yet to be retested as support.
✓ Aggressive traders can look to long all pullbacks.
✓ Safer traders can look to long when/if 1D market structure is established.
Good luck!
Hit the LIKE button if you find my analysis valuable and want to support me. Follow to make sure you don't miss any future trade ideas.
1W chart showing bullish engulfing candle reversal: