ADA/USDT 1H: Bearish Breakdown โ€“ Wait for Reversal Confirmation?

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ADA/USDT 1H: Bearish Breakdown โ€“ Wait for Reversal Confirmation?
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Current Market Structure:
  • Price at $0.693 in a bearish trend, with clear lower highs and lower lows.
  • Significant breakdown observed below key support levels.
  • RSI at 23.49 shows oversold conditions, but no clear bullish divergence has emerged.


Key Levels:
  • Resistance: $0.72, $0.74, $0.78
  • Support: $0.68, $0.65


Trading Recommendation (Confidence 8/10):
  • Wait for Entry: Current momentum is strongly bearish with no reversal signals.
  • Smart Money is likely accumulating at lower levels.

Risk Score:
  • 8/10 โ€“ High risk for longs in the current environment.


Recommendation:
  • Wait for either:
  • Bullish divergence formation on RSI
  • A double bottom pattern near $0.68
  • A clear break and retest of $0.72
  • Not advisable to catch this falling knife yet, as market makers appear to be pushing for stops below $0.68.

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Penafian

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