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ADAUSDC

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