ADAUSD: 65 to 70 Cents on The Menu for Short to Near Term

Hi Everyone! White Lower B-Band in the 4-Day at $0.68 cents is current resistance until the Red Line is on the verge of going above white level 30. That's not possible the current 4-day candle. Will we go up from the white lower b-band to the yellow b-band basis the next 4-day candle? That remains to be seen. The Blue Line in the 2-Day has a LOT of work to do to rise up above White Level 30 along with the Red Line to increase odds of going up from the yellow b-band basis to the white/aqua upper b-bands. I see potential to "wick" above the white lower b-band in the 2-Day but have a hard time making it up to the yellow b-band basis at $0.79 cents in the 2-Day. The Blue Line is simply too low at present. If we do go up to the Yellow B-Band basis in the 2-Day, look for it to fall back down to proximity of the white lower b-band shortly after and follow with a bounce back up.

Hope this opinion is helpful.

Happy Trading and Stay Awesome!

David

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12-hour time frame:

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4-Hour Time Frame: