HODL Long ADA

I think ADA is still long. My previous idea was that ADA is forming a W double bottom pattern. I still think it is the case, I had just drawn it too early.

For now it is still creating higher highs and lows on daily timeframe and we haven't gone lower than previous low, however I believe we could see a last wick down to either 1$ or worst case to 0.92$ to create a bear trap, but these are critical levels here, we need to start creeping up back to those MA's and if we loose the purple zone, I think it will be confirmation of the bear market.

But imo, we will see a reversal soon, RSI levels are close to oversold levels and ADA never sits long there. We are currently in fear index & Whales & institutional money are currently accumulating and I think there is a reason why, buy the fear. ADA is at a great price point currently as it's retraced around 61% since ATH. Also we can see a massive bullish divergence. All in all, I think ADA bottom is near the end and should recover soon.