ADA/USDT 1H: Bearish Breakdown – Wait for Reversal Confirmation?
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Current Market Structure:
Key Levels:
Trading Recommendation (Confidence 8/10):
Risk Score:
Recommendation:
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Current Market Structure:
- Price at $0.693 in a bearish trend, with clear lower highs and lower lows.
- Significant breakdown observed below key support levels.
- RSI at 23.49 shows oversold conditions, but no clear bullish divergence has emerged.
Key Levels:
- Resistance: $0.72, $0.74, $0.78
- Support: $0.68, $0.65
Trading Recommendation (Confidence 8/10):
- Wait for Entry: Current momentum is strongly bearish with no reversal signals.
- Smart Money is likely accumulating at lower levels.
Risk Score:
- 8/10 – High risk for longs in the current environment.
Recommendation:
- Wait for either:
- Bullish divergence formation on RSI
- A double bottom pattern near $0.68
- A clear break and retest of $0.72
- Not advisable to catch this falling knife yet, as market makers appear to be pushing for stops below $0.68.
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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.
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.