ADA Price Action – Bearish Breakdown or Reversal?

Key Insights:
#ADA has been in a strong downtrend after breaking a key support level and is now forming a harmonic pattern on the 1-hour timeframe. This could signal an upcoming move—but will it be a continuation or a reversal? Let's analyze!

Current Market Structure:
🔹 Downtrend intact after breaking key support
🔹 Harmonic pattern forming—potential reversal zone
🔹 Key level to watch: If #ADA breaks and closes below the current support, it could trigger a strong bearish move

Trading Plan:
🔹 Bearish Confirmation: If #ADA closes a candle below support, we will look for a short entry with proper risk management
🔹 Bullish Scenario: A fakeout and reclaim above support could lead to a strong bounce—watch for reversal signs!

Your Thoughts?
What’s your bias? Are you taking this short setup, or do you see a reversal coming? Drop your thoughts in the comments! Let’s discuss!

If you found this analysis helpful, don’t forget to LIKE 👍, COMMENT 💬, and FOLLOW for more insights!