As I'm reading Fibonacci Analysis by Constance Brown, I'm practicing using fibs as she did during her successful career. As I was messing around, I realized that ADA was hitting perfectly on two fibs that I was able to draw. I'm not yet to the part that allows me to predict where it's heading, but just wanted to share this!
I found two confluence zones where there appears to be solid support/resistance. One is down at $1.83 at the bigger .618 fib (and smaller 1.618 fib), and one at the next target if support is found at $2.38. If ADA find support at $2.38, which it looks like it's heading there to confirm right now, it could try to reach for the confluence zone at $3.26!
I found two confluence zones where there appears to be solid support/resistance. One is down at $1.83 at the bigger .618 fib (and smaller 1.618 fib), and one at the next target if support is found at $2.38. If ADA find support at $2.38, which it looks like it's heading there to confirm right now, it could try to reach for the confluence zone at $3.26!