ADA Upward Pressure Continues Remainder of Current Weekly Candle
Hi Everyone! If you look at the Red Line above Level 50 in the Weekly and see our White Energy (momentum) is still well above level 65; we can conclude upward pressure is likely to continue for at least the remaining amount of time in the current Weekly Candle. As for the next Weekly candle; it may be that upward pressure continues for at least part of the next Weekly Candle; if not all of it. If that ends up being the case, we could go higher than $0.43 cents. It would be possible to go up somewhere between $0.45 and $0.48 cents.
So, we are not done with our upward pressure before we can begin a slow bleed down. If we do have a slow bleed down, it may be we do not fall down to $0.32 cents. It may be around $0.35 cents. However, let's wait to see the pullback begin first. Then have a look at multiple time frames to determine where our "floor of support" may be "at that time." Let's simply avoid getting ahead of ourselves just yet until we see this current upward pressure is about to exhaust.
I hope this was helpful. Please take a moment to click the "rocket" icon at the bottom right of the chart. Certainly would appreciate it.
Thank you for your valuable time and for your support!
Feel free to post your own opinion; idea; chart; etc... in the comments below.
Happy Trading and Stay Awesome!
David
So, we are not done with our upward pressure before we can begin a slow bleed down. If we do have a slow bleed down, it may be we do not fall down to $0.32 cents. It may be around $0.35 cents. However, let's wait to see the pullback begin first. Then have a look at multiple time frames to determine where our "floor of support" may be "at that time." Let's simply avoid getting ahead of ourselves just yet until we see this current upward pressure is about to exhaust.
I hope this was helpful. Please take a moment to click the "rocket" icon at the bottom right of the chart. Certainly would appreciate it.
Thank you for your valuable time and for your support!
Feel free to post your own opinion; idea; chart; etc... in the comments below.
Happy Trading and Stay Awesome!
David
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