ADA:BTC Descending Triangle + Bear Flag is likely to = doom
Updated
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1-2 days: Breakdown bear flag | 1 week: 1000 Sats | 1-3 month predictions: < 1,000 Sats
Previous analysis/position: N/A
Patterns: Descending triangle + Bear flag
Horizontal support and resistance: S = 1830 Sats | R = 1900 Sats
12 & 26 EMA’s (calculate % difference): 12 currently acting as resistance | 26 = -4.93%
50 & 128 MA’s: 50 = -10.49% | 128 = -28.13%
FIB’s: 0.236 = 2580 Sats | 0 = 618 Sats
Candlestick analysis: Doji at resistance
Ichimoku Cloud: Fully bearish, Tenkan and Kijun starting to diverge in bearish manner.
TD’ Sequential: R-3 = R-2 on weekly
Visible Range: HVN at 1858 Sats with 1m lookback. HVN at 2146 Sats with 1 year look back.
Bollinger Bands: MA on daily is acting as resistance
Trendline: N/A
Daily Trend: Chop
Fractals: Down = 1658 Sats | UP = 1907 Sats
On Balance Volume: Just made a higher high for a bull div
ADX: ADX getting ready to cross 25
Chaikin Money Flow: Finding resistance under -0.05
RSI (30 setting): = 41.7 | higher lows and higher highs
Stoch: Trending up
Conclusion:
1st Entry = Breakdown of bear flag
2nd Entry = Breakdown of horizontal support
Backup Plan = Sell if we get a throwback to the triangle.
Stop for the first two entries = 1955 Satoshi's
1-2 days: Breakdown bear flag | 1 week: 1000 Sats | 1-3 month predictions: < 1,000 Sats
Previous analysis/position: N/A
Patterns: Descending triangle + Bear flag
Horizontal support and resistance: S = 1830 Sats | R = 1900 Sats
12 & 26 EMA’s (calculate % difference): 12 currently acting as resistance | 26 = -4.93%
50 & 128 MA’s: 50 = -10.49% | 128 = -28.13%
FIB’s: 0.236 = 2580 Sats | 0 = 618 Sats
Candlestick analysis: Doji at resistance
Ichimoku Cloud: Fully bearish, Tenkan and Kijun starting to diverge in bearish manner.
TD’ Sequential: R-3 = R-2 on weekly
Visible Range: HVN at 1858 Sats with 1m lookback. HVN at 2146 Sats with 1 year look back.
Bollinger Bands: MA on daily is acting as resistance
Trendline: N/A
Daily Trend: Chop
Fractals: Down = 1658 Sats | UP = 1907 Sats
On Balance Volume: Just made a higher high for a bull div
ADX: ADX getting ready to cross 25
Chaikin Money Flow: Finding resistance under -0.05
RSI (30 setting): = 41.7 | higher lows and higher highs
Stoch: Trending up
Conclusion:
1st Entry = Breakdown of bear flag
2nd Entry = Breakdown of horizontal support
Backup Plan = Sell if we get a throwback to the triangle.
Stop for the first two entries = 1955 Satoshi's
Trade active
Entered 3/4ths of desired position with an average price of 1796 SatoshisNote
If not fully positioned then this bounce is likely a very good selling opportunity. Sell 1600 - 1,677 and place stop at 1801.Note
emasar Indicator is available for purchase at alphanalysis.io/product/emasar/
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