ADA - Thats a big Goguen

I’m a bit late to the party as I’ve been busy over the last couple of days but that dip was just what ADA needed. Well done if you managed to catch that dip & if you held on tight. If we look at the daily chart, on the 22nd and 23rd of Feb, ADA dipped to its Ichimoku Cloud Conversion Line (Tenkan Sen) and bounced right back up……. twice. As I’ve stated before, its not where the candle wicks to, but where the CANDLE CLOSES that counts, and both the 22nd and 23rd candles closed above its Pitchfork Median Line. Worthy of note is the fact that ADA has closed 14 DAILY CANDLES ABOVE ITS PITCHFORK MEDIAN LINE and it looks like we’ll close this 15th day candle above it also. The RSI is indicating momentum is upwards in the overbought area, but that doesn’t mean ADA will drop as momentum can range sideways in the overbought area for an extended period. The Lagging Span (Chikou Span) is also indicating upwards momentum, and at the moment there is no fear of crossing under the price from 30 Periods ago. The Conversion Line (Tenkan Sen) is also starting to curve upwards and move away from its Base Line (Kijun Sen). The ADX DI SMA is indicating that the uptrend has lost a bit of strength because the ADX (Yellow Line) is at 48.9 and under its 10 Period SMA which is at 63, but it does look like the ADX is about to start curving back upwards and the SMA is starting to curve downwards so we may see a crossover and renewed upwards strength. The +DI (Green Line) is at 20.8 and the -DI (Red Line) is at 10.7 indicating we are still in an uptrend for this timeframe and note that the +DI is moving away from the -DI, which as you know, is good thing for the uptrend. ADA is still trading above its Bollinger Bands Middle Band Basis, and the Lower Band has been brought back up indicating that volatility is being brought back into equilibrium ready for another breakout, and if you scroll back a few days on the chart, you’ll see that this is very similar to the previous rise and consolidation we had in early Feb. If we don’t breakout this weekend then we may see a Bollinger Band Squeeze before the next breakout like we did with in early Feb. While some people were freaking out saying ADA will crash, i stated in a previous post that ADA would possibly walk up its Pitchfork Median Line, which is what it is doing! If ADA has a big breakout on the weekend, we could possibly go to $2.0 or if it really goes crazy then possibly $2.95. ADA is still looking so damn strong for the longterm and it shows no sign of stopping just yet, i'm looking forward to March and just seeing what new heights the Goguen update can help ADA achieve. Another possibility is we will continue to walk up the Pitchfork Median Line for a few more days before the next breakout. I hope this is helpful & good luck 🙏

On a side note, i swear some people cannot count, many jokers say Bitcoin is more profitable since March 2020 than ADA & VET..... THIS IS FALSE! If you invested in either 3 of these Cryptos in March 2020 your profit on the 20th Feb would’ve been:

BTC = around 1420%
VET = around 4381%
ADA = around 7143%

THIS IS TRUE!

So over the last year, what is the LEAST profitable out of ADA, VET or BTC……. well it isn’t ADA or VET so stop corrupting poor Billy 🤔

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The 3 day chart is also looking really strong 💪🔥🚀🌔

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Price has now closed 15 days in a row above its Pitchfork Median Line. This is a good thing 👍

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Just look at that awesome 3 day candle! FYI, a new 3 day candle starts Saturday 27th at 12am! Also, look at that Upwards Momentum on the Ichimoku Cloud Lagging Span (Chikou Span) for this 3 day chart! Awesome! I hope this is helpful 👍

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Put an ADX DI SMA on your daily chart, scroll back and see what has happened before when the ADX (Yellow Line) crosses back over its 10 Period SMA (White Line)........... This is why i use the ADX 👍 I hope this is helpful 🙏

TradingThroughTheLens

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