ADA/USD - 6/24 Forecast & Analysis Tips: LSMA, Confirming Trends
Hello friends!
Yesterday's forecast did not play out as expected. The broader market rebound was stronger than indicated, bringing prices to 1.31 before falling back towards 1.20, a bit higher than yesterday's close of 1.16. Support has been holding at 1.20 with prices ranging between 1.20 and 1.25, but ADA has been unable to find lasting support at 1.25.
In this video I talk about today's forecast (up to 1.30, but a downward bias that is likely to test 1.20) and the next 72 hours, which looks to be volatile with prices likely to descend at least to 1.15 and another test of 1.00 possible.
Bottom line: we cannot call the bottom being in, and if 1.00 is tested again, it presents an attractive buying opportunity.
I also discuss some tips on technical analysis using the Phoenix Ascending and Bollinger Band indicators. Specifically, LSMA's relationship with Bollinger Band expansion/contraction and using adjacent timeframes to gauge the probability of a pattern (e.g., prices moving to the yellow basis line).
Please let me know if there are other tips or aspects of the indicators that you would like me to cover and I will try to work them into my next videos.
Good luck and good fortune!
Yesterday's forecast did not play out as expected. The broader market rebound was stronger than indicated, bringing prices to 1.31 before falling back towards 1.20, a bit higher than yesterday's close of 1.16. Support has been holding at 1.20 with prices ranging between 1.20 and 1.25, but ADA has been unable to find lasting support at 1.25.
In this video I talk about today's forecast (up to 1.30, but a downward bias that is likely to test 1.20) and the next 72 hours, which looks to be volatile with prices likely to descend at least to 1.15 and another test of 1.00 possible.
Bottom line: we cannot call the bottom being in, and if 1.00 is tested again, it presents an attractive buying opportunity.
I also discuss some tips on technical analysis using the Phoenix Ascending and Bollinger Band indicators. Specifically, LSMA's relationship with Bollinger Band expansion/contraction and using adjacent timeframes to gauge the probability of a pattern (e.g., prices moving to the yellow basis line).
Please let me know if there are other tips or aspects of the indicators that you would like me to cover and I will try to work them into my next videos.
Good luck and good fortune!
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