ADA created new lows as we anticipated

ADA created new lows and is now between support and resistance. We could see a bounce right from the median line to retest the previous support and confirm it's flip to resistance. We have a very small bullish divergence on the MACD but it could get invalidated very easy if we fall a little bit more. Except from the price's reaction to the median line there is no reason to consider buying here. The last line of defense could provide us a good buying opportunity if when the price gets there it's at the intersection with a median line and we also have bullish divergence on MACD and RSI.

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This is the reaction we want to see from our small buy zone. Use tight SL, there is no reason to let it fall.

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Bear pennant spotted. Wait for the breakout.