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ADA/USDT still bearish?ADA / USDT has been showing signs of correction for some time and, in my view, it will have continued with the first support test marked on the chart and if it loses, we will try the next support below with up to 45% of the loss of value. Another possibility is a test on the first support to later try to escape the triangle with the value of 0.12 USDT as the first resistance. The support zones fit well with the 0.618 and 0.786 Fibonacci retraction levels. Ps: This is not a financial advice, always do your own research ...
Short
by fgolobovant
4
ADA.USDT (Y20.P4.E1.v2).Looking for the next long ** A continuation of the previous post, link provided below ** Hi All, Just a reminder: Most Traders are stating that we are in the earlier stages of a bull run, not just BTC but SP500 and Gold. So what we are seeing is a likely ABC correction. We have 2 types of possible correction, a mild or deep correction as I explained in my SP500 latest post. With the SP500 we have hit the mild correction target of 3230, if its to be deeper, then 3230 is point A (refer to me chart below or previous post) ======================================================= If your one of those who want to go long with Cardano, along with LINK, LEND, KAVA, defi well performing coins, then here is the area where I will be looking to buy the dips. Strategy: You are unlikely to find the bottom so start buying the dips, in this green zone. If SP500 has hit its target, then we should see some bottom formation here and likewise with BTC we still maintain a lower high, charts below. For now, it looks like the SP500 is holding along with the US dollar index, so a bounce is looking more likely. Note the hidden bullish divergence with price and the RSI Please give me a like or tick for this post. Regards, S.SAri Current SP500 chart, wedge formation with a bullish div. in the short time period BTC\SP500 correlation My thoughts on the US dollar BTC chart PREVIOUS POST:
Long
by ssari
3
ADAUSD is likely to discontinue the correlation with BTCHey friends hope you are well and welcome to the new update on Cardano. The ADA coin has turned very strong bullish comparatively to all the cryptocurrencies. so we will discuss how it completed this bullish setup and what it can do next. A re-cap: last year in August 2019 I posted an article where I predicted that the price action of ADA has formed a bullish Shark pattern. As per Fibonacci sequence of this pattern I predicted that the price action should enter between $0.057 to $0.089. Finally the price actions started rally in December 2019 and produced more than 46% and dropped down again in the potential reversal zone and started another rally. Comparison between the harmonic moves of Cardano and Bitcoin: In March 2020 the price action of Cardano and the Bitcoin both formed different harmonic moves. The ADA coin formed a bullish butterfly pattern and as per Fibonacci sequence of this pattern I predicted that the price action should enter between 0.382 to 0.786 Fibonacci projection of A to D leg of this butterfly. Finally the priceline turned bullish in April 2020 and produced more than 230% rally so far. At this time the price action is likely to break out the 0.786 Fibonacci projection area. If it will be broken out then it can start more powerful bullish move than the previous one. On the other hand the Bitcoin also formed a bullish Gartley pattern on the monthly chart and entered the potential reversal zone in march 2020. And I predicted that as per Fibonacci sequence of this pattern BTC should atleast reach between $8654 to $12070. Finally the price action turned bullish in April 2020 in entered in this zone. But so far it has produced almost 53% that is far less than the profit that has been produced by the Cardano. The different indicators are signaling more bullish moves for ADA: If we switch to the daily chart then we can observe that since June 27 up till now the Cardano made and other bullish move of 26% but the BTC at the same time was moving down. If we take a look at the different indicators then on Cardano’s chart the MACD is strong bullish and the stochastic is also strong bullish but at this time on the Bitcoin chart the stochastic is bearish and MACD is weak bearish. The SMAs: If we watch the simple moving averages with the time period of 25 50 100 and 200 on the daily chart. Then Cardano has crossed up them all. And it is moving above all these SMAs. The 25 SMA also has formed bull cross with 50 SMA beneath the priceline and the 25 simple moving average is also working as a really very strong support for the price action. But on the other hand the price action of Bitcoin has broken down the 25 and 50 simple moving averages and the 25 simple moving average has formed a bear cross with the 50 simple moving average. Even though we have 100 and 200 simple moving averages strong supports below the price action. And the 100 SMA has also formed bull cross with 200 simple moving average. But there is a big gap of almost $500 between the current priceline and the 100 simple moving average support. Therefore price action can be dropped up to this level at any time. An up channel: On the daily chart the price action of Cardano is also moving in up channel. For example, if ADA will not break down or break out the support and resistance of this pattern and will continue to move within this channel then with the passage of time it will continue achieve more higher price levels. Conclusion: We have been watching the correlation between the Cardano and Bitcoin and all other top alts upto April 2020. But after that up till now the ADA coin is likely discontinue this correlation with the Bitcoin and all other top altcoins.
KRAKEN:ADAUSDLong
by moon333
5
Will Cardano Break The Last Support?A recap: In Aug 2019 I posted an article where I revealed that the priceline of Cardano was forming a shark pattern. RSI had still some space to move in oversold zone and moving average convergence divergence ( MACD ) was still strong bearish , therefore there was more possibility that the price action will definitely complete the final leg of Shark which was being formed at that time below was the article: Finally in December 2019 the Cardano took the bullish divergence and after producing more than 46% bullish rally the priceline of ADA retraced back again. It was expected that if the price action will cross up the 0.786 Fibonacci projection of C to D leg of this bullish Shark then it will be turned more bullish. But unfortunately the price action went closer to 0.618 Fibonacci projection level and from this level the seller took over the charge and brought the priceline down again. Hitting at last support: In previous week we have witnessed a strong bearish rally that brought the price action down upto the last support at $0.027002. And the price action has hit a spike up to $0.018540. That is the new lowest price ever in the history of Cardano with US dollar pair as per Kraken exchange. Harmonic move a sign of hope: Now there is a strong hope appeared that on this last support the price action of ADA has completed formation of bullish pattern. It can be easily seen that a a bullish Crab has been formed. The initial leg of this pattern was started with the candle stick that was opened on 17 December 2019 and has been completed on 12 Feb 2020. After that the price action has been retraced back between 0.382 to 0.618 Fibonacci level. And then the price line projected between 0.382 to 0.886 Fibonacci projection of A to B leg. Now from here the price action was suppose to be retraced between 1.27 to 1.618 Fibonacci level and this recent sell off has helped the priceline to move more down to complete the final leg. So far we can see the price line of ADA has only hit the spike in potential reversal zone area but soon we can expect that the price action will again move down to enter in this zone. The range of potential reversal zone and Fibonacci projection area or buying and sell targets can be as follow: Buy between: $0.019129 to $0.004567 Sell between: $0.030263 to $0.057737 As you can see this potential reversal zone of 318% area therefore if for example the priceline hits the lowest pricelevel of this PRZ level and hits the highest Fibonacci projection or sell zone then it can be a 1164% really very massive move. This can be the same volatility as the NPXS normally shows. However In my opinion it is not possible that ADA would move as that much down therefore we should find the buying at the starting of potential reversal zone. This is the 1st positive sign I have found sofar if there will be more developments then I will definitely share with you.
KRAKEN:ADAUSDLong
by moon333
ADA Has Surged More Than 200% But Still Going Better Than BTCHi guys and gals hope you're doing good. Cardano is the coin that is going for better than the Bitcoin in other top altcoins. Today we will try to understand the movement of the price action of ADA coin what it can do next. The difference between Cardano’s move and other cryptocurrencies: As in the below chart it can be easily observed that the ADA and Bitcoin both have formed up channels on daily charts after the mid of March 2020. And there were many more other cryptocurrencies that have formed same as like this up channel following the movement of the Bitcoin. But the difference between the Cardano and all other cryptocurrencies is that ADA has broken out the resistance of this channel on the 30th of May but on the other side the Bitcoin and many other top altcoins have broken down the support of the channel. I have also placed the simple moving averages with the time period of 25, 50, 100 and 200. And when the Cardano broke out the resistance of the channel then there was a big distance between the price action and all the simple moving averages. So there were two possibilities whether the price action starts a correction rally to the downside up to the nearest available moving average to have some support over the moving averages or the moving averages move up to provide the support to the price action. And finally the moving averages moved up to provide the support the price action and that is really very positive move. At this time the price action is at the support of 25 simple moving average and 50 simple moving average is also moving up. And if we watch the 100 and 200 simple moving averages then recently the 100 simple moving average has crossed up the 200 moving averages. After this cross a complete opened alligator mouth is formed by the simple moving averages. As now we have the smallest time period moving average above all other moving averages and the biggest time period moving average is below all the moving averages. On the other side on BTC chart we have the smallest moving average above all other MAs but the biggest time period moving average so far is not below all the moving averages therefore the ADA coin has potential to move against the market its mean that if the Bitcoin will be moving down then it is possible that Cardano will maintain its position. The exponential moving averages and their synchronized movement with indicators: If you watch the exponential moving averages with time period of 10 and 21 then it can be easily observed that since the priceline of ADA has crossed up these two exponential moving averages then it is using them as good support. I have also observed the movement of the price action above these two EMAs is very much synchronized with stochastic and MACD indicators. Because whenever the price action touches the exponential moving averages and stochastic gives the bull cross and MACD also turns bullish then the price action starts next bullish rally until it re-tests the exponential moving averages again. This time when the price action again touched the EMAS then stochastic gave bull cross and MACD also truned weak bearish from strong bearish that is also a bullish signal. Then ADA tried to start the next rally. But again the stochastic has given bear cross and the MACD also turned strong bearish in the price action again moved at the support of these to EMAs. Now the MACD is again turning bullish. If the price action will be still on these EMAs and stochastic will again give the bull cross then it is possible that the price action of Cardano will start the next bullish rally. Different support and resistance level and re-testing of resistance as support: Now if we switch to the two day chart then on this chart the different support and resistance levels can be seen very clear. In the month of March 2020 the price action bounced from the last support of $0.027 and crossed up the next resistance of $0.045. The price action retested the previous resistance as support and crossed up the $0.065 resistance level and after breaking out the next resistance level the price action has broken out the $0.08 resistance level as well. At this time the price action is retesting $0.08 resistance as a support. If this retest will be successful then the priceline of ADA can move up to the next resistance level that is at 10 cents. Otherwise it can move back to the previous resistance level of $0.065 to re-test it as a support. Now the next move of the Cardano whether to the upside and downside depends on this retesting of previous resistance level as support. Conclusion: So far the price action of Cardano is more bullish than Bitcoin and other top cryptocurrencies. Therefore we can expect that ADA can be a safe heaven at the time when the Bitcoin will start correction rally. However we can set a stop loss at next support level that is $0.065 to minimize the risk of investment. Note: This idea is education purpose only and not intended to be investment advice, please seek a duly licensed professional and do you own research before any investment.
KRAKEN:ADAUSDLong
by moon333
2
Cardano (ADA) Is Gonna Start Chain Reaction SoonHi folks, hope you are doing good, today I am gonna show you a really very interesting move made by Cardano’s price action. It has formed a series of bullish pattens and formed patterns within other patterns. Therefore this article can be really very interesting for the people who are trading for holding ADA. Recap: First of all I would like to take you to my old article that I published on 19th August 2019 and on this chart I revealed that Cardano has formed a bullish harmonic Shark pattern. This pattern was started from Feb 2019 and completed on August 2019. And as per Fibonacci sequence of bullish Shark it was expected that the price action will enter in the Fibonacci projection of C to D leg from 0.382 to 0.786 Fibonacci projection level. If the price action would cross up the 0.786 Fibonacci projection level then it would turn more bullish but unfortunately after visiting the Fibonacci projection area or sell zone the priceline dropped at the support. Dropped on strong support: At this time we have a strong suppor at $0.027 and we can see so far it is proven very strong support as on 13th March 2020 on daily chart a really very strong and long bearish candlestick tried to break down this support but even after hitting far more beyond this support the candlesticks retraced back above the support zone. It can be expected that the priceline would move at this support level sideways for some more time. Bullish Crab pattern on 2 day chart: Now let's come to the point that I want to share with you and that is ADA has formed harmonic patterns within other harmonic pattern let's take a look at 2 day chart. Here on 2 day chart the price line has formed a bullish crab pattern let's have a look how perfect this pattern is formed after initial leg the A to B leg is retraced between 0.382 to 0.618 Fibonacci level and B to C leg is projected between 0.382 to 0.886 Fibonacci projection of A to B leg. After that the last leg is retraced between 1.27 upto 1.618 Fibonacci level. Even though the price action has hit the potential reversal zone and retraced back and has hit the Fibonacci projection area of A to B leg from 0.382 to 0.786 Fibonacci projection but I am expecting that it will be turned more bullish soon and it can even cross up 0.7886 Fibonacci projection level because we have more bullish patterns on log term charts. www.tradingview.com Bullish Butterfly pattern on weekly chart: Now let's move to the weekly chart where the price action of ADA has formed bullish butterfly pattern. Let's have a look how perfect this pattern is formed. The initial leg was started in December 2019 and completed on Feb 2020. Then A to B leg has been retraced between 0.618 to 0.786 Fibonacci level that is the first confirmation of bullish butterfly pattern. Then B to C leg is moved up between 0.382 to 0.886 Fibonacci projection area of A to B leg and here we have received the second confirmation of bullish Butterfly. Now we can see the recent strong bearish rally has helped the price action to complete the final leg off this pattern and C to D leg is retraced between 1.27 upto 1.618 Fibonacci level. Even though we can see that the price action has hit beyond the potential reversal zone of this pattern but in very next candle the priceline is pulled back and has hit the 0.382 to 0.786 Fibonacci projection of A to D leg. But we can expect that soon the priceline will again turn bullish and we will see some green candlesticks on this weekly chart. Very bit bullish Butterly on monthly chart: Now let's move to the more bigger time period chart and that is one month chart. On this long term chart price action of ADA has formed another harmonic Butterfly pattern. The first leg of this butterfly was started on November 2018 and completed on June 2019. Then we can see that the price action has been retraced between 0.618 0.786 Fibonacci level and from November 2019 to Feb 2020 the price action moved up between 0.382 to0.886 Fib projection of A to B leg. Then again the price action dropped between 1.27 upto 1.618 Fibonacci retracement level and here we have a complete bullish Butterfly. A chain reaction to achieve highest price: Now we have a series of harmonic patterns. The first one is on 2 day time period. The second one is on weekly time period. And third one is on monthly time period chart. The short time period 2 days pattern can provide the push to the pattern that is formed on weekly chart and the weekly chart parent can provide the strong push to the pattern that has been formed on monthly chart. This move of Cardano will be like a chain reaction. And this chain reaction can produce a very powerful bullish divergence even we can see that the ADA can achieve the highest price ever in the history of Cardano.
BITTREX:ADAUSDLong
by moon333
1
Cardano Is Pumped More Than Other Top CryptocurrenciesHi friends hope you are doing well and welcome to the new update on Cardano. In today's article we will try to understand why the ADA has surged more than other top cryptocurrencies. And in order to understand this we will try to watch the different chart patterns, moving averages, oscillator and different indicator is well. Harmonic moves gave advance bullish signals for this surge: Now before moving to analysis. I would like to show you to harmonic patterns that were formed during the strong bearish trend of March 2020. And while moving down the Cardano formed a harmonic Crab pattern on two day chart and in the meanwhile the price action also formed a very big bullish Butterfly pattern on the monthly chart as well. Therefore as per Fibonacci sequence I predicted that the price action will take bullish divergence from the potential reversal zone of Crab and along with that it will also start a bullish rally from the potential reversal zone of bullish Butterfly pattern on monthly chart. And the this move would be like a chain reaction. And we have witnessed that finally the priceline of ADA started a bullish move after the mid of March. And sofa it has produced more than 300% rally. Bullish Crab: Bullish Butterfly: The SMAs: In order to observe the power of bullish or bearish trend it is very important to watch moving averages. Therefore I always watch the position of the moving averages. Now on daily chart if we watch the position of the simple moving averages with time period of 25 50 100 and 200 then it is very strong bullish. There is only one move is due and that is the 100 simple moving average should form a bull cross with 200 SMA. And then a complete opened alligator mouth will be formed that can lead the price action to turn more bullish. But there is also a critical point and that is the price action has turned so much bullish and it went very far above the moving averages. And there is a big distance between the moving averages and the price action. Therefore if the priceline will start a correction rally then it can move down up to the first available nearest moving average and at this time it is 25 SMA. Therefore that will be a drastic drop however if the moving averages will be moved up and remove this distance then the price action will have strong support of the SMAs just below the tail of the candlesticks. Up channel has been broken exceptionally and EMAs are strong bullish: On the same daily chart the Cardano has formed an up channel like every top cryptocurrency. But exceptionally the ADA turned very strong bullish and it has broken out the resistance of the channel. On the other side if we watch the Bitcoin and all other cryptocurrencies then those are still moving within the channel. For example at this time the Bitcoin is near support of that channel. And if we watch the exponential moving averages 10 and 21 then again Cardano went very far from the support of exponential moving averages and on the other side the Bitcoin is using the exponential moving averages EMA 10 and 21 as support. Support and resistance levels: During the previous strong drop the priceline of ADA has re-tested the support of $0.027. Then it moved up and crossed the $0.45 resistance. And after crossing up this resistance the price action re-tested it as a support and then Cardano turned very strong bullish and crossed up $0.065resistance level. This time the priceline was very strong bullish as it did not re-tested the previous resistance of $0.065 as a support. However there is still possibility that price action will start correction rally and re-test the previous resistance as support before next bullish rally. Now the next resistance level for Cardano is $0.10. Amd this level in very strong key level resistance as it is not broken out since April 2019 even after several attempts by the ADA. Therefore the next bullish move is very important for Cardano. If this $0.10 resistance level will be broken out then the price action can start stronger than the previous bullish rally to achieve the higher than previous highest price ever in the history of ADA. Conclusion: In the month of Jun 2020 The ADA can behave different as compare to other cryptocurrencies including Bitcoin. And it can show more powerful bullish moves in coming days. However we should be careful about the stop loss because the price action went very far and away from the support of the moving averages. Therefore if price action will move down to retest the support of any moving average then the drop can be severe.
KRAKEN:ADAUSDLong
by moon333
2