ADA - Likely to have minor retrace before pushing higher

The market had a nice bounce from support zone and 0.786 fib level. Bullish divergence did play very nicely but the question is that will it keep pushing higher? For now this area is very attractive for selling and when combined with overbought stochastic, it's like to have minor retrace before continue pushing upwards. Bullish divergence confirms that the reversal is in the place and that when it did hit the reversal zone that tells to us that there are huge demand for it at this area.

Keeping it short for this time.

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Things to Remember:

• Stop-loss orders are strongly recommended.
  
• Beware of buying tops or FOMOS, you might end up losing or waiting long periods of time before getting anything back.
  
• Do your homework before investing.
  

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Yarr

Yorum:

The Daily chart is showing a beautiful bullish engulfing candlestick pattern

Yorum:

Sorry guys I forgot the change timeframe information so it might be misleading, it's still daily eventho it says 4h