ADAUSD Price Comes to Decision
Updated
Important things to note:
We have not gotten our 50MA test yet.
Price coming to another decision.
Long wicks tells us price will move up temporarily.
A break from temporary trendline will signal fall to lower price level.
1.91 price level will be hit hit price falls, 1.71 might be hit.
Chinese Govt hates BTC (we already knew that)
Important Dates to Take Note of:
ADA Summit Sep 25-26 2021 (likely to produce more important dates)
So we have not gotten our 50MA test yet and price looks like it is coming to another decision. Anything can happen so I am not going to say we will not get our test at all. We can see long wicks which tells us the price is likely to move upward if only temporarily. We also have a temporary trendline and a break from this level will signal a move to the downside which is the 1.91 level. The next stop after the 1.91 level would be the 1.71 level. I do not see the price moving below this right now but we will see. On another note, the Cardano Summit is tomorrow, which I am attending. Hopefully I can grab some limited edition NFTs and I'm sure there will be a lot of news coming out that may be beneficial for ADAs price. I am not going to guess what impact this will have because we don't know. However, I am going to let you all know what happens at the summit so you can know what's going on. In other news, the Chinese government threatens to ban BTC for the 1000000th time. Honestly, it doesn't matter long term in my opinion, people will find a way around all of this like they always do and it is likely to create alternative mining and markets all over the place. Anyways, that's my two cents. I will continue to watch ADA and let you all know what I think. Thanks again.
I am going to make a video soon teaching everyone my approach to charting. I will cover the entire workflow process I go through. I hope you enjoy it.
Tell me what you think?
This is not financial advice. DYODD.
We have not gotten our 50MA test yet.
Price coming to another decision.
Long wicks tells us price will move up temporarily.
A break from temporary trendline will signal fall to lower price level.
1.91 price level will be hit hit price falls, 1.71 might be hit.
Chinese Govt hates BTC (we already knew that)
Important Dates to Take Note of:
ADA Summit Sep 25-26 2021 (likely to produce more important dates)
So we have not gotten our 50MA test yet and price looks like it is coming to another decision. Anything can happen so I am not going to say we will not get our test at all. We can see long wicks which tells us the price is likely to move upward if only temporarily. We also have a temporary trendline and a break from this level will signal a move to the downside which is the 1.91 level. The next stop after the 1.91 level would be the 1.71 level. I do not see the price moving below this right now but we will see. On another note, the Cardano Summit is tomorrow, which I am attending. Hopefully I can grab some limited edition NFTs and I'm sure there will be a lot of news coming out that may be beneficial for ADAs price. I am not going to guess what impact this will have because we don't know. However, I am going to let you all know what happens at the summit so you can know what's going on. In other news, the Chinese government threatens to ban BTC for the 1000000th time. Honestly, it doesn't matter long term in my opinion, people will find a way around all of this like they always do and it is likely to create alternative mining and markets all over the place. Anyways, that's my two cents. I will continue to watch ADA and let you all know what I think. Thanks again.
I am going to make a video soon teaching everyone my approach to charting. I will cover the entire workflow process I go through. I hope you enjoy it.
Tell me what you think?
This is not financial advice. DYODD.
Note
I am very bullish on ADA here soon. I am seeing things that look very good heading into next week. I want to see either a break of the 50MA, or a test small pullback and bounce. I have said before I only see a few more movements in this market correction and that number is coming to an end here soon.Note
The price decision has broken to the upside. There is an ascending triangle that is forming. The top break would be the resistance at 2.34. A third touch will likely push through and test the 50MA finally.
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