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ADAUSDT| All Time High VWAP Resistance| Swing Short

ADAUSDT| All Time High VWAP Resistance| Swing Short

ADAUSDT is now trading around the Channel High, this region is in confluence with the Daily S/R Support and the .618 Fibonacci. Testing support for a bounce into the Fibonacci ratio allows for an SFP Model Entry.

Bitcoin Insider
November 20, 2024 • Estimated Reading Time: 5 minutes

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Updated Technical Analysis
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ADAUSDT Long Trade 📈

In today’s analysis -ADAUSDT - trading in a high-time-frame channel with multiple confluence at an approaching resistance region allowing for a short bias.

Technical Points to consider ✍️

All-Time High VWAP Resistance
Daily S/R Support
Channel High Resistance
.618 Fibonacci/ SFP Entry
Channel Low Support
Bullish Order Block

The current price action is extremely impulsive, this influx in bullish momentum occurred at the Channel Low support that was in confluence with the high time-frame POC.

ADAUSDT is now trading around the Channel High, this region is in confluence with the Daily S/R Support and the .618 Fibonacci. Testing support for a bounce into the Fibonacci ratio allows for an SFP Model Entry.

Overall, in from Bitcoin Insider’s perspective, ADAUSDT is a valid short with defined risk, price action it to be used upon discretion/ management once the .618 Fibonacci region is tested. ✍️

Hope this analysis helps.

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