Day candle from yesterday closed right below our daily resistance level at 4150ish. Not what we wanted to see. The dojo is giving us indecision and possible downside action. We will have to wait for the day to see which way we are moving.
4hr chart update
So this one doesn't look favorable at the moment, as in i see downside. you can see the midnight candle closed the trendline with confirmation. Could we about to fall to weekly resistance at 3686 (Weekly 618 retracement)? Not sure but I don't see much preventing that move. I think we might see some studder or pause around the 3800 mark. This might provide support to move the other way but we'll see.
Patience is the game now.
Ok folks We are looking to buy here. If you are an ADA fan I would look for entries anywhere from 4000 and down.
You can see we broke / closed below trendline, and the 36 day MA. The current candling forming still has time but at the current moment it looks like quite the decision needs to be made. Looking at the order book I thinkm we are going to see the day, tough the W-618 retrace easy. We will need support there to help move upside.
Entries at 3655 would be around the 27% Fib ext mark.
Under the 200MA, Under the 36MA, slow MAs are crossed to downside, we broke trendline, volume low, we are going to 3680ish.