ADA/BTC is currently finding resistance at a previous around 900-915. We saw this 900-915 area act as a support back on November 24th and 25th, and we actual rallied up to the 1010 level after touching this 900-915 area. However, when broke down below 3500, we saw break below the around 900-915, and come all the way down to about 830 before finding some buy support and moving back up. The move we had from 830 to 915 or so seemed more like a dead cat bounce then an actual rally. Either way, we found resistance at old support, which is , and could signal more sell-side momentum to come. has historical support around 550-700, so that is an area of interest I’m keeping tabs on. As I’ve said in other posts, is dictating the pace for alt coins; so if wants to continue to the downside, then majority of alt coins will continue to the downside as well.
What to watch for:
1.) Sustained break above the 900-915 , and retest of that 900-915 level as support.
2.) Sustained break below the bottom of 830 that was formed a short while ago, which could lead us to that 550-700 level I mentioned earlier.
3.) 550-700 area to hold as support once more if we get down to those levels.
–This is not financial advice. Always do your own research and come to your own conclusions before buying/investing, as investing in cryptocurrencies comes with high risk and high amounts of .
If my post was helpful, and you’d like to support me, here are my donation addresses:
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Many thanks! 🙂
Published at Sat, 08 Dec 2018 08:14:26 +0000
