ADA – That was a long Squeeze

ADA quick update:

So the long Bollinger Bands Squeeze ended as an upwards breakout…… Was there ever any doubt??? Nah 😜.

The Ichimoku Cloud Conversion Line (Tenkan Sen) is indicating Short-term momentum is upwards.

The Ichimoku Cloud Lagging Span (Chikou Span) is indicating momentum is sharply upwards.

Overall volume is increasing and its looks like this will be a 4th daily candle to close green.

The ADX DI SMA is indicating strong upwards trend with the ADX (Yellow Line) at 35.2 and above its 10 Period SMA which is at 29.3. The +DI (Green Line) is at 22.6 and the -DI (Red Line) is at 6.8. Note that the +DI and -DI are moving away from each other.

If we look at the Chaikin Money Flow ( CMF ), the CMF (Green Line) is at 0.02 & has crossed back over the ADL (Dashed White Line) out of the Distribution Zone & into the Accumulation Zone. A very key thing to look out for is increased upwards momentum from the CMF Line in the accumulation zone.

ADA has found resistance at its 0.786 Trend Base Fib Extension Level, ADA needs to close a daily candle above this level and turn it into strong support.

ADA needs to eventually close a daily candle above its Pitchfork Median Line .

ADA is still looking absolutely fantastic for the longterm. Hopefully the big Ethiopian deals will be announced soon. You’ll also be happy to know that poor old Billy is very chuffed that the long ADA Bollinger Bands squeeze has come to an end 😆.

I hope this is helpful. Good luck 👍🚀🌍🌔🪐🛸👽