ADAUSD Correction DONE New Bull Trend
Updated
Important things to note:
I had suspected the correction for ADA was coming to an end.
BTC has confirmed this and will push to its next bullish target producing a new ATH.
There of course will be retracement along the way.
I said the market will be bullish this coming week and it is working out perfectly.
I have shown the price movements on the chart.
We have a new support of 2.08.
ADA price will lag behind a bit from BTC but will still be bullish.
We had a test of 50MA, I said the price will be back.
Once we cross 50MA for good next, ADA will push upward.
Important dates:
I will update all of the Cardano Summit News soon. I have mentioned a little bit during my chart updates. A LOT to look forward to. 5-10 years Cardano will be huge.
I realized ADA was likely out of the correction but I did not see confirmation from BTC. This was because I missed the 2nd lower low which I saw today after going back and looking through all of the timeframes. The correction is officially over. BTC will push to its next bullish target which is a new ATH, and it will go far past that in the coming months. ADA will follow this trend, however the bullish momentum will lag behind BTC a bit like it always does. We have a new support at 2.08 and I have marked the bullish price movements on the chart. We had a 50MA test which I was waiting for. Like I said before this means the price will be back to cross to 50MA and when it does, it will create bullish pressure upwards. This could create a short squeeze down the road when we get closer to expiration. I have said before that we will be bullish this coming week and everything looks like it will fall right into place. There will be retracements along the way, but we are back in a bullish trend. The 1D MACD looks great like I said before and I expect a cross within a few days. This news coming out of the summit was more than I could ask for and I plan to test their protocols very soon. As I said before I would like to develop on their platforms, it is just a little early right now and there aren't too many tools available. Overall, everything I heard confirmed to me that in the next 5-10 years cardano will be HUGE and likely used by the big banks due to their scalability. This was confirmed by the European tokenization firms during the summit. I haven't mentioned the deflation that will likely occur in the future, further increasing the price of ADA. I will be putting out an entire post summarizing the ADA Summit news, so stay tuned, there is a lot to cover. Anyways I will keep and eye on ADA and update you all accordingly! Enjoy!
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 had suspected the correction for ADA was coming to an end.
BTC has confirmed this and will push to its next bullish target producing a new ATH.
There of course will be retracement along the way.
I said the market will be bullish this coming week and it is working out perfectly.
I have shown the price movements on the chart.
We have a new support of 2.08.
ADA price will lag behind a bit from BTC but will still be bullish.
We had a test of 50MA, I said the price will be back.
Once we cross 50MA for good next, ADA will push upward.
Important dates:
I will update all of the Cardano Summit News soon. I have mentioned a little bit during my chart updates. A LOT to look forward to. 5-10 years Cardano will be huge.
I realized ADA was likely out of the correction but I did not see confirmation from BTC. This was because I missed the 2nd lower low which I saw today after going back and looking through all of the timeframes. The correction is officially over. BTC will push to its next bullish target which is a new ATH, and it will go far past that in the coming months. ADA will follow this trend, however the bullish momentum will lag behind BTC a bit like it always does. We have a new support at 2.08 and I have marked the bullish price movements on the chart. We had a 50MA test which I was waiting for. Like I said before this means the price will be back to cross to 50MA and when it does, it will create bullish pressure upwards. This could create a short squeeze down the road when we get closer to expiration. I have said before that we will be bullish this coming week and everything looks like it will fall right into place. There will be retracements along the way, but we are back in a bullish trend. The 1D MACD looks great like I said before and I expect a cross within a few days. This news coming out of the summit was more than I could ask for and I plan to test their protocols very soon. As I said before I would like to develop on their platforms, it is just a little early right now and there aren't too many tools available. Overall, everything I heard confirmed to me that in the next 5-10 years cardano will be HUGE and likely used by the big banks due to their scalability. This was confirmed by the European tokenization firms during the summit. I haven't mentioned the deflation that will likely occur in the future, further increasing the price of ADA. I will be putting out an entire post summarizing the ADA Summit news, so stay tuned, there is a lot to cover. Anyways I will keep and eye on ADA and update you all accordingly! Enjoy!
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
2nd support if you are wondering is 1.98.Note
If you are looking at BTC wondering how I came to the conclusion about the trend reversal, the three drives pattern and the higher low followed by the double bottom have a lot to do with it. But hey, maybe I am wrong! We shall see!Note
Hey everyone, it's time for me to go to sleep. But as a little treat, I thought I would give you a nursery rhyme:To cheer you up,
I'll give you this song,
Tomorrow might prove,
That I might be wrong,
But I am not worried,
Because bitcoin is strong,
I thought you should know,
That I entered long.
LOL Goodnight everyone!
Note
Well it looks like one trader out there saw the same signal I mentioned yesterday. Take a look at this article from 6 hours ago. The trader who saw the same signal I saw was the guy named John Wick. It's nice to know I'm not alone here LOL.cointelegraph.com/news/traders-say-bitcoin-s-bullish-bias-will-only-be-confirmed-by-a-close-above-44k
Note
The article also mentions accumulation by long term holders which was something I have mentioned a few days ago. I also mentioned that they are not just accumulating it but moving it to cold storage, meaning they do not see a sell scenario anytime soon. It looks like they also use Glassnode.
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