ADA/USDT 1H: Bearish Breakdown – Wait for Reversal Confirmation?

ADA/USDT 1H: Bearish Breakdown – Wait for Reversal Confirmation?
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Current Market Structure:

• Price at $0.693 in a bearish trend, with clear lower highs and lower lows.
  
• Significant breakdown observed below key support levels.
  
• RSI at 23.49 shows oversold conditions, but no clear bullish divergence has emerged.
  

Key Levels:

• Resistance: $0.72, $0.74, $0.78
  
• Support: $0.68, $0.65
  

Trading Recommendation (Confidence 8/10):

• Wait for Entry: Current momentum is strongly bearish with no reversal signals.
  
• Smart Money is likely accumulating at lower levels.
  

Risk Score:

• 8/10 – High risk for longs in the current environment.
  

Recommendation:

• Wait for either:
  
• Bullish divergence formation on RSI
  
• A double bottom pattern near $0.68
  
• A clear break and retest of $0.72
  
• Not advisable to catch this falling knife yet, as market makers appear to be pushing for stops below $0.68.
  

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