ADA is in a parallel channel in which the median line played an important role. For now we are trading under the median line and if we close like this the chances of going to the support of the channel are quite high.
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The pitchfork is telling us that now is the perfect time for buy with a tight stop loss. If we close under the red median, chances of testing the dotted median line are very high and if that one fails too we will test the support of the pitchfork.
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A front run of the target is always a good sign.
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Bearish divergence at the resistance.
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The 4H chart doesn't look good either, we might not break that wedge so based on price action and the bearish div on the H1 TF it could be a good time to take at least partial profits and put the stop in break even.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.