My short summary of current BTCUSD market – which is a base if it comes to ADAUSD price development.

4H bullish , 1D Neutral, 1W Neutral

By neutral I mean that we need to wait for further price action development.

4H bullish , 1D Neutral, 1W Neutral

By neutral I mean that we need to wait for further price action development.

Why bullish on 4H ? Due to emerging hidden bullish divergence (blue)

Some minor problem with the bullishness here is the emerging sell signal visible on 1000 Pip Key_levels indicator

Why Neutral on Daily and weekly?
Long term red support line has now been broken, so we hope for the price of BTC going back above the red line levels, if that fails BTC will quite quickly tank down to the blue line area where (hopefully will find support). The problem here is that after hitting the blue line (if ever) traders will start seeing the potential head and shoulders pattern which will result in panic selling and huge market volatility – price of ADA will get signifficantly affected if that would turn to be true.

On the green side, if we will manage to go back above the red line by the end of today – we will retest the 47k levels quite soon – if that were to happen, your ada will sky rocket and quite quickly people of internet will start screaming for alt season 😉