Here's the make or break point - The candles have held the ascending support of the 1x1 fib ray several times and are now being crushed under the resistance of the 3rd Arc Pair - At this point if the support breaks the candles will continue down inside the 3rd Arc Pair - If the support holds the price will break upwards thru this arc and hit the 4th Arc Pair and beyond - Breakout will be seen either way when the candles reach the tip of the wedge in the next day or so - Volume is low
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ADA had a $$ boost from the Weiss report but the candles are stuck under the 1x1 fib ray - In Gann charting above the 1x1 is bullish, below it is bearish - If the price cant break above the 1x1 expect more downside, especially if the candles can't open outside of the 3rd arc pair they are currently in
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Ada has fallen off the Gann 2x1 fib ray - next support is 0.000039 on the 38.20% fib - My feeling is Ada will crawl along the 38.20% fib until the candles reach the uptrend of the red 2x2 Gann fib ray - I'm not buying yet however its not got much further to fall now if your hodling
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Ada is flattening out - As i said previously I expect the price to go sideways around the 38.20% fib until the candles reach the red 2x2 fib ray - Price action should happen at the Arc
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Ada has broken the red 2x2 fib ray so the next stop is the 23.60% fib around 0.00027 - Its not impossible Ada could dip as low as 0.000021
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The Mac D on the Ada Day Candle chart has finally crossed up - I'm beginning to accumulate at this price range now as more downward movement looks minimal if unlikely - This has all taken quite some time, it may go sideways now for a while too
i hope it breaks down soo i can get a better deal! but i somehow just doubt it given how strong this coiin is. it lasted w/o huge decline w/ recent dips unscathed
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@jamikr, Yes its held the uptrend well, the descending resistance of the arc has been just as strong, the volume is low which can precede a drop, its right at the tip of the wedge so we'll know very soon, good luck *)