ADA/BTC finding resistance at the 50 EMA on the 4-hour.

2 nov 2018

ADA/BTC is currently finding resistance at the 50 EMA on the 4-hour chart. I'll be watching for a retest of the orange line as support. We've seen the orange line hold as support before, and it acted as a previous resistance zone back in September, so we are seeing prior resistance act as support. If the orange line breaks, it'll most likely retest the .786 fib level around 1060, and if that breaks, we could see it move down to the 1 fib level around 970-980. I suspect it will retest the orange line, as for we are already seeing the 50 EMA on the 4-hour act as resistance and we have more overhead resistance from the .618 fib level around 1130, and we have the 100 EMA on the 4-hour at roughly the same level as the .618 fib level. If we can get above the 50 EMA, we can then seek to attack the 100 EMA and the .618 fib level, and if we can get above and sustain buying above the .618 fib level, we could see ADA make a move toward the 200 EMA on the 4-hour, if not higher to the .5 fib level around 1180.

Area's of interest for entry:

1080-1095 (Orange line support.)
1060 (.786 fib level.)
970-980 (1 fib level.)

--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 volatility.

2 nov 2018

Nota

Apologizes, had the fib chart inverted from a prior charting. Numbers are the same, but the levels are flipped. Original information in the post remains the same, but here is my chart looks like now:

2 nov 2018

Nota

ADA/BTC holding above the 50 EMA on the 4-hour so far. Watching for a break of the .618 fib level on my original chart and a break of the 100 EMA on the 4-hour:

4 nov 2018

Nota

Talk about a notable move! Watching to see where it'll find support now. We have the 100 EMA on the 4-hour in yellow, the .382 fib level around 1130, and the 50 EMA on the 4-hour in green: