ADA is cooling off.
Hello everyone, due the high amount of request regarding ADA here is a new post. Let's analyse it together.
As we can see ADA is making lower highs, this is a sign of weakness.
We are still in the supply zone, here is where the pros distribute (sell) their stock to the new traders. More commonly known as distribution phase.
We found a level of support at 1.14ish, this support is not going to hold, its only purpose is to allow the distribution phase to function.
We need to wait for ADA to drop down to our trend lines are, it may even drop to where our lines cross.
Do not buy ADA now! I am going to repeat myself, DO NOT buy ADA now. This is a distribution phase, whoever is pushing you to buy ADA do not listen to him.
We need to wait, wait for the market to come to you, do not chase the market.
As we can see ADA is making lower highs, this is a sign of weakness.
We are still in the supply zone, here is where the pros distribute (sell) their stock to the new traders. More commonly known as distribution phase.
We found a level of support at 1.14ish, this support is not going to hold, its only purpose is to allow the distribution phase to function.
We need to wait for ADA to drop down to our trend lines are, it may even drop to where our lines cross.
Do not buy ADA now! I am going to repeat myself, DO NOT buy ADA now. This is a distribution phase, whoever is pushing you to buy ADA do not listen to him.
We need to wait, wait for the market to come to you, do not chase the market.
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