BTC continues to flirt with $53k, markets are .
Today expect more downward price action, increasing risk of drop to 1.03 in next 3 days.
Intraday (next 24 hours)
Summary: Continued fall in prices, between 1.18 and 1.11.
3H – Sharp decline in green and white with now below level 50, suggesting new lows. Prices likely between 1.20 and 1.15 early in the day.
6H – did rise above level 50, and came up, but looks to again drop below level 50. Green and white below level 50, meaning downward momentum. Because most indicators are somewhat flat, prices will likely be down and to the side between 1.20 and 1.15
12H – With the having crossed below 50 and descending, the B-bands are expanding, allowing price ranges to widen. The green is well below the white , suggesting new lows, while the is low and descending. The suggests new lowes, likely between the lower aqua and orange B-bands, testing the 1.11 fib if 1.15 does not hold
1D – is now below level 50 and descending, indicating downward momentum. However, the green is flat and white is coming back up towards level 50. This, combined with the still above level 50 on a slow descent suggests that downward price movement is likely limited. A step down to the lower aqua B-band is possible (currently 1.11), but prices may not drop much below that.
Multiday (rest of this week)
Summary: Downward momentum continues, 1.11 likely bottom, but risk of drop to 1.03
The 5D is the most concerning, with 4 days left. Without a turnaround in prices, the green is getting close to level 50 (currently 55). If the 5D closes with the green below level 50 (when the is below level 80), it is probable that prices would go to the yellow basis, around 1.03 in the next candle.
Longer timeframes are not indicating a deeper drop at this time, but if BTC were to break below $53k and continue down to $49k, it could bring ADA/USD to the $1.00 level.
Good luck and good fortune!