ADAUSDT: Discussion of Short and Near Term Time Frames 8/18/2021

Hi Everyone! Do not forget the 6-Day Red RSI triggered upward pressure by closing above Level 50 before the White Energy in the 3-Day could trigger downward pressure by closing below Level 50. Therefore, upward pressure still rules the Near Term Period of Time Frames as long as the Blue LSMA can remain Above Level 50 in time frames lower than the 6-Day time frame. Yes, I know we are currently seeing downward pressure in the Short Term Group of time frames. However, Near Term Upward Pressure still in control for now. It appears we are in a trading range between $1.89 and $2.14 based on current level of the White and Aqua LOWER B-Bands. If we were to see a sudden drop (shakeout), we have strong support at $1.75.

I'm still bullish for the Near, Mid and Long Terms; even though we are seeing the current pullback.

Happy Trading and Stay Awesome!

David

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UPDATE:

Here is the text within the red text bubble for those needing to "Google Translate."

Something else NOT to forget:

When upward pressure is "triggered" by the Red RSI "closing" ABOVE Level 50, we know
upward pressure should continue until the White Energy falls down to or near
Level 50. The White Energy actually went up to Level 115. I want you to cut that in half;
which would be approximately Level 56. So, we are to assume upward pressure is more
likely to continue in this 6-Day time frame until the White Energy falls to or below Level 56.

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UPDATE:

8-hour time frame:

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UPDATE:

We almost hit that 3.618 Diagonal FIB Extension in the 8-hour: