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ADAUSD Break To Upside and Key AreasImportant Things To Note: The overall market speaks for itself. I have said it many times, we are in for a ride. BTC looks great. I have a target of 100K for this leg from cup and handle pattern. All of the Totals reaching ATHs ADA has finally broken out (we knew it would). It should follow the map I laid out for you guys in previous posts. ADA will finish its cup. Expect consolidation near resistance. (not too much) Volume will need to fill. Important dates: BTC ETF Deadlines Nov. 21, Dec. 8, Dec. 11 and Dec. 24. So things are looking great for the market. I told you alts would start moving sooner than you thought and they are. There are plenty of opportunities and I tried to give you a few while you waited for ADA to breakout. I have a cup and handle target that was made a few days ago by BTC of around 100K (looks like PlanB is going to be right again). The structure of ADA turned bullish and when I saw the confirmation, I let you guys know in an update. I hope you read it. Just like I had planned, we got our breakout and are currently seeing the formation of our cup. There will be consolidation along the way, however its looks pretty good until we hit the resistance I marked on the chart. From there, the volume will need to fill a bit. A lot of you wanted to sell ADA, however if you spoke to me directly you know how I felt about that. This is a great example of keeping your emotions in check. You knew ADA would break out. The pattern was right there. I mapped it out as clear as day. So, if you couldn't control yourself, consider this a learning lesson. Now, like I said before, sit back and enjoy the ride. As always, I will keep you in the loop with what I see. Thanks again everyone! 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.
COINBASE:ADAUSDLong
by mysticalwalrus
58
USDCHF - Head & Shoulders Pattern @ Trendline Hi Traders! The setup of this idea is that the market is now at the weekly Trendline. There, it formed a Head-and-Shoulders Pattern, which indicates a down-movement. At the same time, the market is in a bearish Flag. The Breakout of this flag could possibly serve as an Entry Trigger. You can take profit at the next major Support, which would be the weekly TL or the Support @ around 0.91200 Here are the things again in nutshell: Weekly Upper Trendline Head & Shoulders Pattern (Break of) Daily Support at around 0.92200 (Break of) Bearish Flag Pattern If you have something to add or another point of view, do not hesitate to comment! Thanks and successful Trading :-)!
Short
by swissmoneymakers
ADAUSD Breaks Pattern and SupportImportant things to note: BTC is pushing forward with the exception of taking liquidity here and there. ALT pairs are getting wrecked. It has yet to pullback but I believe it is coming. ADA has broken the flagging pattern which is not good. Bull Flags are quite reliable, this signals more pain to come. The newest support 2.15 was broken. The next support is 2.03 The last would be the diagonal trendline. I mentioned the vol squeeze I saw could go either way but likely bullish to due to the patterns. However, now we have a broken pattern. ALTs will bleed. Keep cash on hand and stay liquid right now. ADA will fair better than most alts. Important dates: BTC ETF Deadlines Nov. 21, Dec. 8, Dec. 11 and Dec. 24. So I talked a bit yesterday about the ALTBTC pairs not looking good. Well they are getting wrecked today. This is due to liquidity flowing from alts to BTC like it normally does. In the past when we have seen this, the move was dramatic, and produced lows of 60%. I do not believe this is going to be the case this time, especially for ADA. I mentioned previously that the squeeze we saw could go either way but bullish was likely, however now we have a broken pattern, so expect the downside. There was pressure, but no one can determine if it is upside pressure or downside pressure until a pattern breaks or a move to a price target begins. I had a feeling this might happen so I told everyone to set alerts on the trendlines and supports (I hope you did). The flag broke and now we have a break on the newest support. Stay liquid and keep cash in hand. This will likely produce good buying opportunities at support. If we lose 2.03 the last support would be the diagonal trendline. Whatever might happen, do not worry too much, I believe this will be short lived. Do not get spooked. Again, I believe the alt pump will happen sooner than most people believe. BTC will continue to move upwards taking a small amount of liquidity here and there. Again, I believe the altpump will occur after the BTC ATH and the following pullback occurs. Anyways, I will continue to watch ADA and update you all accordingly. Thanks again everyone, and try to relax, you will be fine. 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.
KRAKEN:ADAUSD
by mysticalwalrus
72
BTCUSD - D1 - WARNING - POTENTIAL DOUBLE TOP IN PROGRESS !!!Good morning, today we are going to look at the daily picture. Being in a broad uptrend channel (in green) since the lows (double bottom around 29'000), the BTCUSD, from, its recent upside breakout of the clouds is currently in a more steeper uptrend channel; in making, yesterday, an intraday high @ 55'800 (acceleration triggered by the breakout of the former high @ 52'810). Interesting to note that recent and current price action is showing the formation of a potential double top pattern !! Upcoming D1 closing levels should then, be watched very carefully as, currently, the BTC/USD is, also, attempting to breakout the upside of the new uptrend channel (in orange), which recently took place. As long, as the BTCUSD, stays and hold sustainably above 53'433 on a daily closing basis, the picture will remain OK in supporting the ongoing upside move and will open the door for higher levels towards 58'000/58500 (cluster 2 channels resistances !) On the other hand, a failure to do it would be the first warning signal of a reversal (Dark cloud cover); stronger bearish signal would be given by a breakout of the 51'500 (Bearish engulfing pattern). Looking briefly to the weekly picture, the upside breakout of the downtrend line resistance is in progress and should be confirmed by the next weekly closing level in the next couple of days and last but not least also validated by the lagging span which also should breakout the 60'000 area (former weekly closing level) CONCLUSION : As always, I strongly suggest to monitor closely, shorter intraday time frames which will help you to detect early signal (s) from the very short term pictures which, of course, should be validated by higher time unit !!! Have a great day. All the best. Take care Ironman8848
BITSTAMP:BTCUSD
by Ironman8848
3