Almost every time this kind of movement happens it is followed by a huge sell off.
HHSPN
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@taz2017, you are right. Looks like we might revisit 1.35.
taz2017
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@HHSPN, I am thinking more like $1.00 and possibly below to the 0.80s.
taz2017
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@HHSPN, Take a look at the 6-hour Ichimoku chart. If it breaks below $1.38 then $1.25 and below that is just an abyss. Huge bearish risk if it falls through the cloud. I've seen this happen with this Ichimoku setup before.
HHSPN
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@taz2017, 80's would be a great opportunity to accumulate. I'll put some step down orders. Thanks for your insights.
@taz2017, Dang, I missed the dip. My order was for 83c. Do you see any more consolidation to 80's? I don't see a dip to .94c on Karken today, but it shows in your chart, what gives?
taz2017
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@HHSPN, My chart is somewhat sloppy and is more a general trajectory. I do think it’s going to go to the 0.80s from here. Hopefully it actually stops there. I think there’s a significant risk of this being the start of the crypto winter. The BTC chart looks very dangerous. I think BTC will correct to around 30k
HHSPN
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@taz2017, I agree BTC will set the tone for crypto market. If regulation talk come up again next week it might have a flash crash or fast dip. Anything is possible with crypto, like BTC at 30k. But if BTC is at 30k, I;d expect ADA to be in 60's.
taz2017
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@HHSPN, I think 80s to high 70s is reasonable for ADA if Bitcoin goes to 30k. Of course could crash lower.