The article shared last time analyzed the bullish trap of ADA 12.12 Market Analysis of ADA. If it helped friends avoid risks, please give it a like, thank you.
Currently, after the last support and resistance switch false breakout was retracted, there is an expectation of an hourly head and shoulders pattern for ADA, with the right shoulder appearing initially. It is oscillating downwards within a short-term channel. As for where the retracement could go, it can continue to look bullish. The lower support range is actually not far away. The current position has a low risk-reward ratio for going long, and the trading value is low. It is recommended to wait for a volume surge for acceleration, allowing the retracement to be more thorough before observing.
Short-term attention to several positions
Support position
First position 1.04 (already tested once, utility diminished upon retest)
Second position 1
Third position 0.9-0.93
Resistance position
First position 1.078-1.011
Second position 1.16-1.18
Third position 1.23
In trading, it is important to follow the trend, follow the big, and counter the small. When the trend comes, take the ride on the tailwind, and be flexible in turning around when the trend shifts to the opposite. Resisting the trend is like a mantis trying to stop a car, disrupting one's mentality and trading rhythm.
At night, with fluctuations in the US stock market, if you encounter too much volatility, friends, please remember to take profits diligently in trading, decisively cut losses, and holding onto positions has no significance.
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Wishing you smooth trading. Thank you!
