MDA ANALYSIS
MDA recently showed signs of life after popping above all major moving averages and hit the hourly resistance at ~9800 sats. At the hourly block, RSI and Stoch both are showing signs of buying exhaustion. Three previous times this has been a point of reversal. I expect another retrace from this current level down to 100 MA at 8800-8500 sats. I recommend to stagger buy in bids around this level closer to 8500 sats. MDA does have room for growth, but a small retrace is bound to set in. After the retrace has completed, MDA has legs to move back to up T1 (double top) at hourly block of 9800 sats, and break out beyond this level to T2 and T3 at 10750 sats and 12000 sats. I expect the larger rejection to come once T4 has been hit at the daily block of 13850 sats. The breakout after T1 can only happen if the 50 MA does successfully cross the 200 and 100 MA given the bounce off the retrace. Therefore, do not rush a buy in yet. Wait for the retrace down and look for a daily wick reversal near the 100 MA at entry points!
Possible Entries: 8500-8800 sats
MDA recently showed signs of life after popping above all major moving averages and hit the hourly resistance at ~9800 sats. At the hourly block, RSI and Stoch both are showing signs of buying exhaustion. Three previous times this has been a point of reversal. I expect another retrace from this current level down to 100 MA at 8800-8500 sats. I recommend to stagger buy in bids around this level closer to 8500 sats. MDA does have room for growth, but a small retrace is bound to set in. After the retrace has completed, MDA has legs to move back to up T1 (double top) at hourly block of 9800 sats, and break out beyond this level to T2 and T3 at 10750 sats and 12000 sats. I expect the larger rejection to come once T4 has been hit at the daily block of 13850 sats. The breakout after T1 can only happen if the 50 MA does successfully cross the 200 and 100 MA given the bounce off the retrace. Therefore, do not rush a buy in yet. Wait for the retrace down and look for a daily wick reversal near the 100 MA at entry points!
Possible Entries: 8500-8800 sats