Cardano / TetherUSShort
ADAUSDT| All Time High VWAP Resistance| Swing Short
In today’s analysis -ADAUSDT - trading in a high-time-frame channel with multiple confluence at an approaching resistance region allowing for a short bias.
Technical Points to consider ✍️
- All-Time High VWAP Resistance
- Daily S/R Support
- Channel High Resistance
- .618 Fibonacci/ SFP Entry
- Channel Low Support
- Bullish Order Block
The current price action is extremely impulsive, this influx in bullish momentum occurred at the Channel Low support that was in confluence with the high time-frame POC.
ADAUSDT is now trading around the Channel High, this region is in confluence with the Daily S/R Support and the .618 Fibonacci. Testing support for a bounce into the Fibonacci ratio allows for an SFP Model Entry.
Overall, in from Bitcoin Insider’s perspective, ADAUSDT is a valid short with defined risk, price action it to be used upon discretion/ management once the .618 Fibonacci region is tested. ✍️
Hope this analysis helps.
Technical Points to consider ✍️
- All-Time High VWAP Resistance
- Daily S/R Support
- Channel High Resistance
- .618 Fibonacci/ SFP Entry
- Channel Low Support
- Bullish Order Block
The current price action is extremely impulsive, this influx in bullish momentum occurred at the Channel Low support that was in confluence with the high time-frame POC.
ADAUSDT is now trading around the Channel High, this region is in confluence with the Daily S/R Support and the .618 Fibonacci. Testing support for a bounce into the Fibonacci ratio allows for an SFP Model Entry.
Overall, in from Bitcoin Insider’s perspective, ADAUSDT is a valid short with defined risk, price action it to be used upon discretion/ management once the .618 Fibonacci region is tested. ✍️
Hope this analysis helps.
Join for free daily report cards - bitcoininsider.world/
Follow me on Twitter! twitter.com/pinkdawn__
Follow me on Twitter! twitter.com/pinkdawn__
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.