ADAUSDT| All Time High VWAP Resistance| Swing Short
2024-11-21

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.