ADA/USD - Time to be careful on ADA! 🟠

BINANCE:ADAUSD   Cardano / US Dollar (calculated by TradingView)
ADA was rejected by the $1.1 level as indicated by the Fib line at 78%.

Now we touched support and we're holding for now. We may range for a while, however there are some reasons why you should be careful here:

1. We're under ATH , so price will likely be rejected at first try
2. We are forming a massive bearish divergence on MACD+RSI
3. Volume is decreasing
4. We're about to cross on the negative side on MACD

Any of these for points should make you reconsider buying ADA. At best wait. Buying now is too risky in my opinion.

Take extra care if you plan to enter a long here. Use a stop loss and if we break the yellow parabola, then upward momentum will be postponed.

Trade safely!

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what if you are in already at 1.10? what would you do? sell the loss, and buy more later? thx
+1 Reply
DU09 Patl66
@Patl66, If you can hold, hold. As long as the yellow parabola is not broken we can still go up eventually, for now, do not buy ADA, you may get a better entry later.
+1 Reply
@DU09, ok. as usual the minute i sell it will go back up to 1.05 lol. to break the parabola it would be on the yellow line on your TA. Ouch! Wondering if it will drop like a rock in the evening and night.
@Patl66, hope you didn't sell...now 1.47 ADA
@Patl66, I would never sell a loss
+1 Reply
Patl66 bentley7au
@bentley7au, hey nope i learned my lesson now from previous times.
You’ve earned my respect.
good chart
where do you suggest a better entry ?
DU09 Bradtrady
@Bradtrady, Buy support levels on the chart.
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