Would like to see an up-week here for that purple box to continue being a consolidation range. Continued consolidation is fine by me. Weekly opened red, though. Watch this one.
bouncing at the intersection of a couple trend lines. I like the look and think we are somewhere near bottom. RSI looks bottomed, too. If I get anything right on this account I hope its this lmao.
Seeing a lot of similarities on the chart from the March 20' covid low. Seeing a clean trend line from that low. I used a lot of shapes. much technical. I havent gotten a damn thing right yet but lets hope this is where that changes.
Not total doom and gloom yet. Daily RSI bottoming on what seems to be ~48k support. Lose that and ~42k is our last hope in my eyes. Lose ~42k? blouses. How we feelin'?
Think the first step for $ADA to get out of the weeds is to get through that bottom fib level and close in the first bottom, purple box. Not out of the woods at all yet. Met with resistance at first attempt. Next lower support still about $1...
Bottom showing on 4hr and Daily. Hitting fib levels perfect, too. Looks spicy. Last time RSI was this low on both time frames = rocketship. Lots of FUD to this point, too.
Thought maybe we could hold that yellow trend line, but shaping up like we will retest blue 53k-54k trend line. I think that with no Omicron, we could potentially have stayed with the yellow. Structure still holds down to 53k-54k. RSI Retest target marked, too. Thoughts?
Looking strong on $BTC / $USD pair, but not out of the weeds yet. Has a strong resistance to break (and potentially retest). Potential for 53k retest. I would giga-long there. Would love for it to just send immediately, though.
PS Im new to TA and just practicing.
I see some downside for $BTC that wouldn't really change market structure. RSI has a little room drop + I'm seeing it hit current trend line on Daily chart at around 48k-51k. Thoughts
