Hi Everyone! It appears ADAUSDT is not quite ready for a reversal to "sustained" upward pressure just yet. The Red RSI in the 6-Day and 9-Day still have a ways to go yet before closing above level 56. It's possible for the price action to fall to 0.089xx (White LOWER B-Band). In other words, I'm saying the trading range may be in between the White UPPER and White LOWER B-Bands for a while until the Red RSI can "close" above 56 in the 6-Day time frame.
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UPDATE:
KEEP IN MIND: We should NOT assume the price action must come down significantly during a period of downward pressure. We can "estimate" where the price may fall during a period of downward pressure but that does not mean we "must" come down to that "estimated" price.
I'm "estimating" we could fall to the LOWER White B-Band during this period of downward pressure if we do go down. I'm estimating "sideways" at best and "downwards" to the LOWER White B-Band at worst in the 3-Day Time Frame:
This is the only update I'm providing for now... A new 6-Day candle... I'm not providing TA for Short Term Time Frames... I don't have the time to commit to constant updates with short term group of time frames.
Borntowin1988
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@WyckoffMode, I can understand your busy schedule. Thanks a lot for your help David. Thank you
WyckoffMode
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@santhoshmn888,
Sure... You're very welcome...
Thanks for understanding...
meetD
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Great videos! Have any literature you would recommend on technical analysis?
THEN click Phoenix 1.119 (It will take a moment to pop up on the screen.
THEN click indicators
THEN click "Invite-Only Scripts"
THEN click "Bollinger Bands"
Adjust the colors on both indicators how you want them in settings for each indicator and your done.
If you need help figuring out how to get to "Invite-Only Scripts," watch this video you are commenting in or watch my SETUP video for Phoenix 1.119 - BTCUSD WITH 44% AND 56% LEVELS ADDED.
You will find the "Setup" video in the description of the Phoenix 1.119 script.
Great info Dave. Thank you for the update. At what price do you recommend to accumulate? I guess now since it will trade sideways and leave 20% - 30% in case it goes lower?