ADAUSD possible reversals after crash

٨ سبتمبر ٢٠٢١

In my previous post it was predicted (with 3-4 days delay) a retracement till 2.22$. Now price is still above 200 DMA so it can be considered a bull market where RSI divergences in oversold territory are more significant. The question mark here is when. During these kind of price movements good entry points are RSI divergences but it is known that price could still retrace some more and offer a double divergence, even triple and so on. As an example in the chart i showed a second entry point where the double divergence could be formed while testing 200 DMA where there's good support. At this time (8 september 2021) price action formed a single divergence and this moment can be seen as good entry point.