$ADA has been ranging for the past 16 hours as the market decides on where it goes for the next few days.
As of right now, a bullish ABCD pattern has formed and awaiting the ichi cloud break to continue the uptrend (1 and 2 would represent B and D here).
However, a potential drop is coming because:
1. volume at support levels have been weak
2. rejected by kijun and 0.5 fib
3. ichi twist
4. rising wedge
A test of ichi cloud bottom/daily support is likely. If support fails, i'm expecting price to fall in the purple box to the 0.618/1.272 fib levels to complete a bullish 3 drives pattern.
As of right now, a bullish ABCD pattern has formed and awaiting the ichi cloud break to continue the uptrend (1 and 2 would represent B and D here).
However, a potential drop is coming because:
1. volume at support levels have been weak
2. rejected by kijun and 0.5 fib
3. ichi twist
4. rising wedge
A test of ichi cloud bottom/daily support is likely. If support fails, i'm expecting price to fall in the purple box to the 0.618/1.272 fib levels to complete a bullish 3 drives pattern.
Comment:
lol i guess the market made a decsion. new entry target at 0.618 fib confluence zone
Comment:
3500~3400 sats is the 0.618 confluence zone
Comment:
missed my re-entry by 23 sats damnit