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ADAUSDC

ADAUSD wedge breakout to the upside. Short term.Sorry if I'm not fast enough with updates. My days are usually hectic due to family and work. On the bright side, we have made it past our resistance area of 0.33$ - 0.36$. Given just a couple days ago we had a stark retrace to .382 of our fib retracement @0.24$. ADAUSD later formed a wedge that we have broken to the upside. Now we have to see if we can make it to 0.40$ before another retrace. I have highlighted new support area if we were to have a healthy correction. We should get a pullback to our 21 EMA at least, but it all depends on how high we can go before we do. It is also worth mentioning that as overbought as we are on the RSI and MFI on all timeframes. Sometimes crypto markets ignores RSI and MFI completely.
BINANCE:ADAUSD
by Detective_Conan
ADAUSD move to 0.33$ to test resistance short term Update.Made a bounce off 0.24$ support/resistance zone @.236 of our fib retrace. We made it above our 21 EMA and .618 fib. If we hold support here and break out of immediate resistance trendline, high chance of testing .786 resistance zone. Decent entry for a trade @0.30 if we can manage to break out of 0.33$ resistance area. Also a high chance of getting spiked out with a tight stop loss. A safer stop loss would widen our risk. So I am in no rush to re-enter just yet.
BINANCE:ADAUSD
by Detective_Conan
7
ADAUSD imminent reversal. Short term.We did break out and closed above our blue trendline but with very little volume and follow through; thus forming an M pattern with .618 fib neckline. There might be some support at .786 of our fib but I don't expect it to hold the market very much. I also suspect that the green trendline support won't hold the market for long and will eventually break unless we get a bounce up to 0.36$. A good confirmation for a reversal would be a break below 21 EMA and then coming back up to test it as resistance.
BINANCE:ADAUSDShort
by Detective_Conan
4