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Long-pattern

GRTUSDT technical analysisHello everyone, lets quickly get into GRT analysis. it has been shaping two rounding bottoms for a long term, we have had a good run from bottom to major resistance ( black line ) on top ( which is about 80% up ) and it was kind of a cup and handle pattern. I believe as we reached on top of the black line resistance, we have now a lot higher to go. we are currently under 1.32 resistance which I believe will break soon, and after that my tps would be: TP1 : 1.52 TP2 : 1.75 TP3 : 2.21 TP4 : ATH Remember, its just an analysis use it in your own strategic ways. Good luck everyone and have profitable trades.
Long
by Algo_Analyst
1
ADAUSD Flagging ConsolidationImportant Things to Note: BTC is flat out unstoppable. Despite any divergence or patterning, the FOMO is real and the buying is undeniable. This makes it extremely hard to predict the altcoins that follow it closely. Watching ADA consolidate for 3 days has been painful. From the last double bottom reversal, ADA looks like it is flagging. The coil it is forming is a sure sign heavy consolidation is happening. There is a little hidden bullish divergence but its very hard to tell because the bottom is so small. If the pattern holds, we will see a push to the target from the flag to 2.62. This pattern makes sense and is backed up by similar targets I have found. Important dates: BTC ETF Deadlines Nov. 21, Dec. 8, Dec. 11 and Dec. 24. So, I am finally back, with power and internet for now. It has made trading extremely difficult. However, I was able to take a good look at ADA. The way I see it, BTC FOMO is too strong, it has no intentions of slowing down, but I am wary about the next higher low that is coming (46-47K). For now, altcoins that follow it like ADA are hesitant to move and are consolidating mostly. If BTC continues this path, and why should we expect it not to at this point, I see ADA finishing its flagging pattern and breaking out with a move to 2.62. Set your alert for the top of the consolidation trendline and the bottom. If BTC decides to all of a sudden create its higher low, I might finally see the 1D double bottom I have been wishing for, which seem like forever now. You can see the double bottom that formed on the 4 hour which was the trend reversal. This puts the bull flag continuation pattern into play. I told you originally that the altcoin momentum will lag behind BTC and that still stands. All the money I have been making in quick trades with smaller coins I have been funneling into my long term investments. This should pay off greatly when they start to really move. As always, I will keep an eye on things and continue to update you all on ADA. 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.
KRAKEN:ADAUSDLong
by mysticalwalrus
54
ADAUSD A Price Movement RoadmapImportant things to note: This is exactly what an auto fib tool tries to do. Auto fib tools are only semi accurate. Doing it yourself is far more accurate. A fib should be used in conjunction with targets from patterns. This is how I come up with my price targets and calculate larger movements. I hope you can see the pattern that form and why they form. I did not use an auto fib to do this, it would likely not line up at all. I always recommend doing it yourself as you learn more. ADA is still consolidating, the move to EXT.1 will take time. It is unlikely that RET.1 will be hit with the information we have right now. Volume matters and it is the most underrated of all indicators. Important Dates to Take Note of: ADA Alonzo (smart contracts) go live Sep 12 2021 ADA Summit Sep 25-26 2021 Most people will look at a chart and see "green candle = happy, red candle = angry", however, I wanted to show you what I see when I look at a chart. I look for trends, patterns, and signals. I rarely use any other indicators than what you see on my charts. Sometimes I will use something situationally, but usually doing it yourself is best. You have all the information you need right in front of you. I hope by looking at my chart you can also learn to see what I see, and chart things out in a similar way for yourself. Anytime you have a target it should come with some form of confirmation, either by patterns, signals, or trend analysis. When you look at the shorter time frames the volatility increases, and reliability decreases which is why it is so difficult to be a day trader. It is much more easy to wait for pullbacks, and not to sound cliché, buy the dips. This is exactly what you should do while you build your portfolio and increase your knowledge. Further down the road, I will put out more advanced analysis as well, showing you how to trade in the short term. Now, looking at the chart you will see I have a target of around 3.25, this was a target I received from an old cup and handle and I do not think it is any coincidence that it also is equal to the depth of the last basing pattern which was formed. Not to mention the target lines up quite nicely with the other retracements that have occurred. I have been waiting for this pattern to complete for a couple weeks now, and I am likely to do more waiting. While BTC struggles to get its momentum we must wait patiently. I have named another minor target of about 2.9, however this does not excite me as much for obvious reasons. The same process that happened to ADA will happen to BTC where it will either reach a point where there is impulse buying and bulls move the price up quickly or it will be left to consolidate until bulls move the price up quickly. Either way, the price is going to increase in my opinion. I have always said I am not convinced of the doomsday prophecies people have been throwing around. That just does not seem likely to me at all right now. Anyways, I hope this helps you understand how I view a chart, which is why I do not get worked up over the small ups and downs of it all. In fact, I called the move to 2.79 perfectly while in a downtrend with no easy indication (like a big green candle) that the price was going to move. Hopefully you will be able to view a chart in the same way so you don't get emotional at the sight of a giant red candle. Always remember " you must be fearful when others are greedy and greedy when others are fearful" - Warren Buffett. I will continue to keep an eye on the movements of ADA and update you accordingly. Thanks again! lso, it is worth mentioning that TradingView has reached out to me and offered me very kind words, and showed me some support. I thought that was very nice of them and it was very unexpected. Though, I never planned for any of this to happen at all. I was constantly making charts for myself and my friends and some of them suggested I post them publicly. I never imagined any of this would happen, if I did, I would have waited until I had a bit more free time LOL. However, it makes me really happy to know that people are learning from my charts and hopefully it will encourage you all to learn technical analysis for yourselves! In a couple weeks I will have more time to make the educational content you have been asking for, and I will likely chart a wide spectrum of assets. Thank you again for all of the support, it means more to me than you know! Now for some good news. As a person who follows ADA closely, I know that the adoption of the platform will happen very quickly with the release of smart contracts on the 12th of September. In fact, I think it was built with such a great foundation, I might just do an entire post on the fundamentals of Cardano sometime in the future. Pretty soon, we will see NFTs being created, DeFi, applications being developed, and overall strong adoption of the ADA blockchain platform as a whole. If there will be any immediate reason for ADA to move higher, it will likely be news coming from the summit on the 25-26 of September. So I would keep an eye on their twitter accounts around that time. Again, I apologize for having less time to post at the moment, but that will change in a couple weeks. 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:ADAUSDLong
by mysticalwalrus
15
ADAUSD Consolidating BeautifullyIf you take a look a look at my last chart, you will see the consolidation zone is filling nicely. This is doing a great job at filling the price gap between 2.5-2.7. Once consolidated, the price will have reached equilibrium and the market will need to make a choice, which pushes the price up naturally if the consensus is bullish (which it is). However, I hope this lasts a few more days to build the strength it needs in order to make a new high. The slope of the 200MA will decrease soon to match the price decrease that has occurred as of late. Expect the price to be within close range of the 200MA. If the price has a major separation from the 200MA in any direction that could single a strong price movement. Long story short, we still have a falling wedge, consolidation and the signed of a overall bullish pullback. If this changes, I will let you know. Now lets talk about why ADA has so much strength. Cardano is about to release smart contract September 12 with the Alonzo release. This addition makes it a viable competitor to ETH as an open source platform. Right now, it is just a glorified ledger. As a person who plans to be a Cadano Developer once Alonzo is released, it makes me wonder how far ADA can go. I have heard people say it cannot go to 100 dollars because it will need around a 3T market cap. But considering in the past 2 weeks ADA has added 31B to its market cap, it's definitely not out of the realm of possibility. Also, considering Grayscale Investments has picked it up, I think it has a LOT more room to grow. Tell me what you think? This is not financial advice. DYODD.
KRAKEN:ADAUSDLong
by mysticalwalrus
10