Short lived AR

7 days ago

ADABTC
In terms of Wyckoff, what follows the SC (selling climax) is an AR (Automatic Rally).

Historically after an AR, a retracement to the previous support structure is favorable.

ADA Support @ .65; will most likely be sideways movement off that support for a little while.

It appears that ADA is in mini-accumulation phase.

I'm favoring a lower low in the mix somewhere along the way, could very well tango with AR resistance (0:0.618) from April, if that is the case.

But for the time being, I believe ADA will be playing with our emotions for a little bit longer and make some waves on the support structure.

Good Luck Traders!

- Not Financial Advice -

5 days ago

Note

I have adjusted my Wyckoff phases and events. It appears that we are in the BU/LPS event of Wyckoff - which suggests that we may be closing in on the lowest support structures in this area before the next major wave up. Keep an eye on "KEY support" structure (Green Horizontal Ray). Good Luck!