Hello fellow traders,
Let's take a quick look at the 4hr ADABTC chart and see what we can expect in the next few days. To start, notice the fib lines referencing the decline from 9000 to 3600 satoshis. I've pointed out five failed breakouts, circled in red. Each time the bulls have attempted a breakout they have been thwarted, once at the 61.8%, four times at the 50%, once at the 38.2% and then most recently at the 23.6%. The two most recent breakout attempts have also coincided with the downward slope of a triangle pattern that has formed over the last week and a half. There are also a pair of dotted blue lines denoting some recent support. We have dipped below the top support line and fallen down to the lower support level where strong buying appeared. From there ADABTC has been trapped in the triangle. MACD shows signs of a break to the downside to retest the lower dotted support line. If this happens, there is potential to become range bound between the dotted lines.
Be safe and smart out there. Take luck!
Let's take a quick look at the 4hr ADABTC chart and see what we can expect in the next few days. To start, notice the fib lines referencing the decline from 9000 to 3600 satoshis. I've pointed out five failed breakouts, circled in red. Each time the bulls have attempted a breakout they have been thwarted, once at the 61.8%, four times at the 50%, once at the 38.2% and then most recently at the 23.6%. The two most recent breakout attempts have also coincided with the downward slope of a triangle pattern that has formed over the last week and a half. There are also a pair of dotted blue lines denoting some recent support. We have dipped below the top support line and fallen down to the lower support level where strong buying appeared. From there ADABTC has been trapped in the triangle. MACD shows signs of a break to the downside to retest the lower dotted support line. If this happens, there is potential to become range bound between the dotted lines.
Be safe and smart out there. Take luck!
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I look forward to supporting your trades in the future!