ADA pullback before Aug 5th?
Hello everyone,
yesterday WyckoffMode video make me take a close look what might be coming in next days ...
As everyone know ADA is now by far best technology out there and currently have comin with big upgrades like SHELLY era and on 5th of August staking will be allowed. Great news for being bullish long term, no doubt. But what about these 6 days we have since staking start?
After my deeper look on market situation and ADA charts I see there decent chance to dip around 25-35% of value in coming days..
MUST it happen? NO
Is there CHANCE? Definitelly!
What it take to DIP happen?
Break inside of my long term PURPLE trend line ( 0.1392$ ) and close there daily candle. That could be it. This level is same as previous high from start Jul 8th. Aswell if you check PURPLE trend line, which start in March you can see there was always touch with bottom which possibly now could be on 2nd - 5th August close to IC around ( 0.090€ - 0.097€ ).
- We also have LOW volume which might be indicator of coming sale before other pump
- We got BEAR cross on 3D and 6D
This is my 1D timeframe:
On 1W TF : (Might be same scenario as around 8th of June)
- Got BEAR cross aswell
-White energy coming to exhaustion under 50
- Blue LSMA over 80
- Green energy fall under Red RSI
Please, if you like my analysis, your support with following me would be greatly appriecieted.
Thanks for attention.
--Information provided is only educational and should not be used to take action in the markets, always make your own reaserch--
yesterday WyckoffMode video make me take a close look what might be coming in next days ...
As everyone know ADA is now by far best technology out there and currently have comin with big upgrades like SHELLY era and on 5th of August staking will be allowed. Great news for being bullish long term, no doubt. But what about these 6 days we have since staking start?
After my deeper look on market situation and ADA charts I see there decent chance to dip around 25-35% of value in coming days..
MUST it happen? NO
Is there CHANCE? Definitelly!
What it take to DIP happen?
Break inside of my long term PURPLE trend line ( 0.1392$ ) and close there daily candle. That could be it. This level is same as previous high from start Jul 8th. Aswell if you check PURPLE trend line, which start in March you can see there was always touch with bottom which possibly now could be on 2nd - 5th August close to IC around ( 0.090€ - 0.097€ ).
- We also have LOW volume which might be indicator of coming sale before other pump
- We got BEAR cross on 3D and 6D
This is my 1D timeframe:
On 1W TF : (Might be same scenario as around 8th of June)
- Got BEAR cross aswell
-White energy coming to exhaustion under 50
- Blue LSMA over 80
- Green energy fall under Red RSI
Please, if you like my analysis, your support with following me would be greatly appriecieted.
Thanks for attention.
--Information provided is only educational and should not be used to take action in the markets, always make your own reaserch--
Related publications
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.