ADA: Let Me Explain Why We May Continue Down to 35 Cents
Hi Everyone! The Red and Blue Lines in the 3h, 4h, 6h and 8h are super low levels at present. Which means they require a lot of work to get back above Yellow Level 50 in order to see another significant move up with expansion of the B-Bands.
The 3h, 4h, 6h and 8h are at the bottom of this chart from left to right:
I also pointed out in the video we need to see the next 24h candle, 2-Day candle and 4-Day candle. The Red Line the next 2-Day candle may be on the verge of falling down from Magenta Level 60; implying potential to fall down from the Magenta upper b-band to the Yellow b-band basis in the 2-Day.
Bottom Line: We need the Red and Blue Lines in the entire short term group of time frames to rise above yellow level 50 by the time we get a new 24-hour candle. Otherwise, we are subject to see another drop down again to near $0.3479 (Just under $0.35 cents).
The 3h, 4h, 6h and 8h are at the bottom of this chart from left to right:
I also pointed out in the video we need to see the next 24h candle, 2-Day candle and 4-Day candle. The Red Line the next 2-Day candle may be on the verge of falling down from Magenta Level 60; implying potential to fall down from the Magenta upper b-band to the Yellow b-band basis in the 2-Day.
Bottom Line: We need the Red and Blue Lines in the entire short term group of time frames to rise above yellow level 50 by the time we get a new 24-hour candle. Otherwise, we are subject to see another drop down again to near $0.3479 (Just under $0.35 cents).
Here is the Near Term Group (12h, 24h, 2D, 3D, 4D, 5D, 6D and 1W):
It's too hard to say at this time if the bottom is in. We simply need to see what the entire Short Term Group of time frames looks like by the time we get a new 24-hour, 2-Day and 4-Day candle.