ADA has been doing great this cycle and has been one of my favourite charts to read.
Here it now looks like a wave 2 of 3 has completed.
Notice the wicky wicky action above both resistances.
That is distributive liquidity tapping action and a Wyckoff UT UpThrust.
If you've been keeping up with my Bitcoin thread you'll know that I called this wave down on TradingView yesterday.
Here's the chart of how ADA looked then:
From here the question is whether this will be a low or high time frame retracement or exceed the February 3rd low.
I think the chance of the Feb 3 low getting taken out is slim at best.
Its not going to happen unless this is an extremely exotic area.
I'll update later, but for now ADA is odds on to get back to the local 0.618 @ $71.5.
Perhaps that will be the low or it could be that a higher time frame and much deeper retracement is on...
So for now $71.5 is the target 👍.
Btw check my TOTAL thread that I have linked to this thread which details what is happening here ✨.
Not advice
Here it now looks like a wave 2 of 3 has completed.
Notice the wicky wicky action above both resistances.
That is distributive liquidity tapping action and a Wyckoff UT UpThrust.
If you've been keeping up with my Bitcoin thread you'll know that I called this wave down on TradingView yesterday.
Here's the chart of how ADA looked then:
From here the question is whether this will be a low or high time frame retracement or exceed the February 3rd low.
I think the chance of the Feb 3 low getting taken out is slim at best.
Its not going to happen unless this is an extremely exotic area.
I'll update later, but for now ADA is odds on to get back to the local 0.618 @ $71.5.
Perhaps that will be the low or it could be that a higher time frame and much deeper retracement is on...
So for now $71.5 is the target 👍.
Btw check my TOTAL thread that I have linked to this thread which details what is happening here ✨.
Not advice
Note
$0.715* Note
Didn't quite make it to the 0.618 but rather bottomed slightly higher at the 0.5 retracement.If you've been keeping up with my other work, I posted the perfect dip buy in real time on my Bitcoin video thread and have been bullish since then.
Now it looks like its really GO time for ADA.
GG.
Your FA guru can't read a chart💭
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Your FA guru can't read a chart💭
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.