ADA BTC - We going down for at least a minute
Updated
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We got our break & close below the trendline. From the 4he down we have all MAs crossed indicating downside action and price action is leading the way. I don't see prior structure that will provide any support until we hit the 3825 mark.
Slow moving MAs, 36 day, 200 day allow crossed
Price action under all the MAs (bearish)
What do you think?
We got our break & close below the trendline. From the 4he down we have all MAs crossed indicating downside action and price action is leading the way. I don't see prior structure that will provide any support until we hit the 3825 mark.
Slow moving MAs, 36 day, 200 day allow crossed
Price action under all the MAs (bearish)
What do you think?
Note
So we've continued to drop off to around the 4100 range. ADA has found support here and 15min - 3hr shows potential price action indicating a move back up. We need to be patient and see were the 4hr and Day take us. The 36 day MA is spot on support for current price action. We'll need to see if it holds or we get a close below at the end of the day.
Note
Closed our yesterday on a bull candle. ADA found support right at 4060 from the 36 day MA. We'll be watching from here to see if we start moving backup.
The 4hr is forming bull candle now and although the price action is below the 36 and 200 MAs it look like the slow moving MAs are looking to cross to the upside. Starting at the 15 minute and moving (30, 1, 2, 3hr) out you can see price action is starting to move up to and touch the 200 day MA and is leading each time frame in that direction. We'll keep waiting to see if back to and above the 4400 area.
Note
Here is the 4hr chart 15 minutes before the top of the hour before it closes. This is probably gonna close bearish. Not enough buyers at the moment.Note
ADA taking off nicely
Note
ADA playing 4400 at the moment. Price action is showing bearish at the moment. You can see the Fib ext for the last new structure high (NSH) at 4753. We are on track to shrink back to the 4340 area for support and touch of the 618 retrace for the last NSH. It also will find support from the 18 day MA. We'll need to see the four continue close above this level to see a move back up. Need to watch next two candles.
Volume looks weak to a break down to 786 or even lower trendline could be in play. Again watching the next few candles play out.
Believe downwards is the direction and cotinue direction we'll be moving. The MA have crossed on lower levels and 15 minute is getting a little more separation than I would think for potential upside action.
Note
Day chart above
I've adjust the bottom trendline which I think provides more confluence to the prior line. We can now see the last several days (2/2 - 2/12) have played right long testing the 36 day MA as support. Several precision touches have keep ADA from falling down more. The current candle is bearish so we'll need to wait for the day close to see the next move. For those long on ADA, we would like to see final tests of support on lower trendline and 36 day MA and then a return backup to the 5100 satoshi mark.
4hr price action is below the 200, 36, and slow moving MAs. current 4hr candle is forming bullish but time will tell. Will be watching for upside action and candle closing at 4hr to translate up to the day.
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