ADAUSD Support Levels Targeted
Updated
Important things to note:
I am on vacation, will be back tomorrow.
Main Trendline broke, fall to 2.0 came as mentioned in my last chart.
Support levels we will likely see in this fall.
BTC is heading somewhere between 42k-38k
BTC failed to maintain 48k and push for 50k
ADA is heading somewhere between 2.0-1.7
Important Dates to Take Note of:
ADA Summit Sep 25-26 2021 (likely to produce more important dates)
Many of you probably remember I mentioned on the 17th that I was going to be on vacation until Wednesday. I would have liked to post yesterday, but I was at the Life is Beautiful music festival all day. So that is where I have been in case you were wondering. If any of you check my Instagram story probably already knew that! I also thought it was weird that the price started moving right when I was on vacation, but hey that's life for ya! Anyways, so what is going on is that BTC failed to push for the 50k level and could not maintain 48k. I told you all what would happen if that occurred and that is what you are seeing now. The main trendline broke which should have told you the price was heading to 2.0. I have put the key support levels on the chart for you to follow. I do not see it going down any further. The market will bounce, remember, pullbacks give the asset energy to move forward. If you are sitting there holding in the red, don't worry about it, this is only temporary. If you always stay a little cash liquid like me, you are loving this opportunity. Again, the market is going to bounce and I believe the highs coming in the next couple months are going to be huge. Well, that's it for me. I might have some time at night to come back and post but we will see. I will get to all the comments when I can. Thanks a lot for being patient!!
Also, it is worth mentioning that TradingView has reached out to me and offered me very kind words, and showed me some support. I thought that was very nice of them and it was very unexpected. Though, I never planned for any of this to happen at all. I was constantly making charts for myself and my friends and some of them suggested I post them publicly. I never imagined any of this would happen, if I did, I would have waited until I had a bit more free time LOL. However, it makes me really happy to know that people are learning from my charts and hopefully it will encourage you all to learn technical analysis for yourselves! In a couple weeks I will have more time to make the educational content you have been asking for, and I will likely chart a wide spectrum of assets. Thank you again for all of the support, it means more to me than you know!
Now for some good news. As a person who follows ADA closely, I know that the adoption of the platform will happen very quickly with the release of smart contracts on the 12th of September. In fact, I think it was built with such a great foundation, I might just do an entire post on the fundamentals of Cardano sometime in the future. Pretty soon, we will see NFTs being created, DeFi, applications being developed, and overall strong adoption of the ADA blockchain platform as a whole. If there will be any immediate reason for ADA to move higher, it will likely be news coming from the summit on the 25-26 of September. So I would keep an eye on their twitter accounts around that time.
Again, I apologize for having less time to post at the moment, but that will change in a couple weeks.
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.
I am on vacation, will be back tomorrow.
Main Trendline broke, fall to 2.0 came as mentioned in my last chart.
Support levels we will likely see in this fall.
BTC is heading somewhere between 42k-38k
BTC failed to maintain 48k and push for 50k
ADA is heading somewhere between 2.0-1.7
Important Dates to Take Note of:
ADA Summit Sep 25-26 2021 (likely to produce more important dates)
Many of you probably remember I mentioned on the 17th that I was going to be on vacation until Wednesday. I would have liked to post yesterday, but I was at the Life is Beautiful music festival all day. So that is where I have been in case you were wondering. If any of you check my Instagram story probably already knew that! I also thought it was weird that the price started moving right when I was on vacation, but hey that's life for ya! Anyways, so what is going on is that BTC failed to push for the 50k level and could not maintain 48k. I told you all what would happen if that occurred and that is what you are seeing now. The main trendline broke which should have told you the price was heading to 2.0. I have put the key support levels on the chart for you to follow. I do not see it going down any further. The market will bounce, remember, pullbacks give the asset energy to move forward. If you are sitting there holding in the red, don't worry about it, this is only temporary. If you always stay a little cash liquid like me, you are loving this opportunity. Again, the market is going to bounce and I believe the highs coming in the next couple months are going to be huge. Well, that's it for me. I might have some time at night to come back and post but we will see. I will get to all the comments when I can. Thanks a lot for being patient!!
Also, it is worth mentioning that TradingView has reached out to me and offered me very kind words, and showed me some support. I thought that was very nice of them and it was very unexpected. Though, I never planned for any of this to happen at all. I was constantly making charts for myself and my friends and some of them suggested I post them publicly. I never imagined any of this would happen, if I did, I would have waited until I had a bit more free time LOL. However, it makes me really happy to know that people are learning from my charts and hopefully it will encourage you all to learn technical analysis for yourselves! In a couple weeks I will have more time to make the educational content you have been asking for, and I will likely chart a wide spectrum of assets. Thank you again for all of the support, it means more to me than you know!
Now for some good news. As a person who follows ADA closely, I know that the adoption of the platform will happen very quickly with the release of smart contracts on the 12th of September. In fact, I think it was built with such a great foundation, I might just do an entire post on the fundamentals of Cardano sometime in the future. Pretty soon, we will see NFTs being created, DeFi, applications being developed, and overall strong adoption of the ADA blockchain platform as a whole. If there will be any immediate reason for ADA to move higher, it will likely be news coming from the summit on the 25-26 of September. So I would keep an eye on their twitter accounts around that time.
Again, I apologize for having less time to post at the moment, but that will change in a couple weeks.
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 made this chart really quick while I was on vacation, and I remember someone commenting saying this chart has zero value. If you are looking at this on a computer, hit the play button on the chart so you can see the future price movements. You will see I identified the EXACT areas of support. LOL :) cheers!
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