Will update once the final thrust direction confirmed.
There is a clear reversal happening short term which I expect to hit the trend resistance. The declining RSI highs suggest that a bearish movement will be made on a slightly larger time frame.
Declining volume + nice RSI + nice trend= Long
Declining volume, low RSI, lower highs, same lows. Marked the lines of resistance with blue
RSI levels are dipping to their lowest point ever, and As we test the support the most logical conclusion is for it to bounce. If the bounce does not happen that would indicate incredibly bearish for mid term.
The RSI is rising at a substantial rate in tandem with the movement of ADA up the triangle's support. I'm going to wait until a breakout, but I'm currently leaning short on this.
I expect a disruption of the current downtrend. I will be watching for a violation of the pennant in either direction before deciding how to enter the market.
Looking for a short at 7,000. Expecting a retest of resistance of trend line. Will reevaluate on whether to take profit after we hit $6700