AdEx / BitcoinLong
ADX short term
Adex made a nice expansive move from our last chart as predicted. It met a resistance belt from the prior people stuck at higher prices as seen in the chart. We did play in there and exchange hands so most likely next go around it will cut through it and work its way in the next higher resistance belt. If we can hold the 0.618 of this entire move, it would be a real bullish sign.
On the 1hr, we fell back into the cloud to gain some strength but with BTC's volatility, it is causing panic in the traders and to be honest we are just weeding out the impatience at this point. We fell back into the short term buy zone where most likely the price will be defended. I doubt the market will give us a better price and return to prior lows, considering upcoming fundamentals as well as the market cap isnt obscenely high. As we gain our strength, we are likely to make a next expansive move here shortly.
On the 1hr, we fell back into the cloud to gain some strength but with BTC's volatility, it is causing panic in the traders and to be honest we are just weeding out the impatience at this point. We fell back into the short term buy zone where most likely the price will be defended. I doubt the market will give us a better price and return to prior lows, considering upcoming fundamentals as well as the market cap isnt obscenely high. As we gain our strength, we are likely to make a next expansive move here shortly.
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