AdEx is trading on a strong support and has just formed a Heikin Ashi (those who follow me will know by now that I sometimes refer to this trading technique (e.g. Previous post on BlockMason resulting in a 100%+ trade in a matter of days).
The setting of this one is quite similar, although is already trading under it’s longer term blue (78,6). The daily graph shows us a triangle (or even a if you will). We have to break through it on strong to confirm upward momentum. Given that we have a right now, ànd a cross in the MACD, makes me believe this one could be ready to provide us some nice returns as well in the upcoming days.
We also see very low for the time being, if there is a nice spike there soon, together with upward momentum, we will be in for a treat.
FYI – I also highlighted some previous dojis & spinning tops that preceded and indicated a trend reversal in the graph (see white rectangles that highlight them!).
We should break around 16000 sat to be in the clear (nice entry point).
Note that the horizontal lines are levels; + the white horizontal is a separate support line.
So for now: some downward movement to be expected further first.
We got through shortly, hitting the blue Fibonacci resistance line to fall right back into the triangle. Moreover, we are seeing very clear indecisiveness (all the doji candles), low volume, and a MACD that's about to make a bearish cross soon - so we will likely fall back first. Let's hope next one is the charm.