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ADA Punished For Premature Price MoveInstead of consolidating into the bull flag that was forming, ADA was prematurely pushed upwards to test the all time high. Due to the lack of consolidation, the buyers were exhausted, sellers entered the market and punished the premature price move. This is something I had warned about previously. However, it is not the end of the world. ADA will fall back to the consolidation zone noted on the chart, and promptly fill the gaps in volume. If ADA can manage to stay above the strong support at 2.84, that is where it will consolidate instead. From there I expect ADA will have enough energy to move forward yet again. The 3.00 price target is especially difficult because it has strong emotional resistance. This is typical for any price range that has been "hyped up", is a round number, or is a record high. The 3.00 price target happens to relate to all 3 examples. Therefore, to get past this resistance, ADA will need to fall back and consolidate. I still believe the trend for ADA, and crypto in general, is bullish at the moment. 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. 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
7
ADAUSD 1 Day Chart Is A Mixed BagWhen we want to see the health of price movement, it is important to look at all of the time ranges available to us. Overall, ADA looks like a typical upward trending price. We have a pullback in the range of nearly 50% and bullish momentum following the push. This is a textbook upward trend. However, we can see the bullish engulfing that occurred previously was the catalyst for the price rise. This new upward candle that was created lacks the bullish engulfing I would like to see to guarantee a large price move. The reason this is important is bulls like to see higher highs, and if this push lacks bullish momentum and doesn't move to create a new high, it could easily be rejected. If it is rejected, it will be stuck in a grey area where we are trying to figure out if the trend is going to change or not. Obviously right now we are doing fine, but it is worth mentioning. 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. 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
6
ADAUSD Fights to ConsolidateADA is having mixed emotions right now. It had a fall to the 200MA, which held it for a couple hours, then passed through. Now, with the help of the support around 2.5 and a bullish hammer, it is retesting the 200MA. If it can stay above 2.45 there is a large chance it can consolidate further. If it falls in the red range, the price is likely bound for the next support of 2.2. However, right now it looks happy sitting at around the 2.5 support level and testing the 200MA. The test of the 200MA, in general, is bullish. It tells us sentiment is changing and buyers are entering the market again. If it can consolidate in the consolidation zone for a few days, it will likely be ready to push upwards. However, the gap in volume must be filled prior or else any attempt to push will be rejected and a support level will be tested. 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
ADAUSD Descending Triangle will it holdSo, ADA has been confused as of late. We have seen 2 bullish patterns break to the downside recently which tell me people want to get in at a better price point. There was a lot of consolidation and though we have 3 lower highs, we don't have the retracement necessary to confirm the trend. This tells me we are just looking at a pullback. Overall, I believe the market is confused. They want a lower price, but they also want the price to continue higher. This can be caused by people selling a large part of ADA to avg down, then getting cold feet. If the price is not able to continue downward, this pattern will break and the market will agree the price should go up. I have alerts set at both the bottom and top of this triangle because, due to the confusion of the market, I legitimately don't trust any pattern right now. 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
8
Possible Consolidation Before +30-40% PumpADA/BUSD This is the yearly chart with 4h candles. Very quickly I noticed a few significant pumps followed by a descending curve. Even the latest big correction we had has followed this pattern to a certain degree. Basically, the price pumps around 40% on average and then starts slowly falling again. I noticed that all of those curves have three significant lows before they pump again. As in the second and third examples, a slight consolidation period is possible between the last low and the next pump. In all four cases did the price not go below the third low point, marking a good entry point. For a potential ADA/BUSD this would mean: Entry: 1.35-1.5 TP: 1.89 (+40% von 1.35) Stop Loss: 1.347 (third low of the last formation)
ALong
by SpicyDumpling
YFIIUSDT 1D Long setup; W-formation long after consolidationTA explained YFII created this huge W-formation. It seem to have completed the pullback of the latest impulsive move and ready to go for a retest of previous top and surpass it for higher targets Trade setup Best entries: 1994 - 2292 TP1: 3199 TP2: 3994 TP3: 4903 TP4: 5997 SL: 1599 RR: 7.03 Max leverage: 1x ————— Do Your Own Research (of course) Trade at own risk (of course) Only trade what you can afford to lose (of course)
YLong
by MattieDsCryptoLounge
bullish bat pattern on EUR/USD(4H)The Harmonic Bat is a variation to the Gartley pattern which was developed by Scott Carney. It is considered to be one of the more accurate patterns exhibiting a higher success rate than any other harmonic patterns. The bat pattern might look similar to a Gartley 222 Butterfly pattern but differs only minutely in terms of the Fibonacci ratios between the swing/pivot points. *************************************************************************************************************************************************************************************************************** I'm looking to open a long deal and the SL will be a little bit below the X point. TP1 will be the 38% retracement of AD, TP2 will be the 61% retracement of AD. good luck)
Long
by Mazerozeox
2
MATIC Symmetrical Triangle|Resistance confluence|Volume ClimaxEvening Traders, Today’s technical analysis will focus on MATICBTC, breaking out of a symmetrical triangle with strong bull volume, currently facing resistance from the 200 EMA. Points to consider, - Macro trend bearish - True pattern breakout - 200 EMA is local resistance - Retest of local support probable - RSI in overbought region - Stochastics in upper region - Volume climax evident MATIC’s overall trend is still bearish with consecutive lower highs in place; it must break and consolidate above the .382 Fibonacci to establish a new higher high. A true breakout of the symmetrical triangle came to fruition with strong convincing bull volume. This volume must sustain for further upside momentum. The 200 EMA is currently local resistance, MATIC is likely to retrace from this level back for a retest of local support. The local support aligns with the .618 Fibonacci drawn from the 200 EMA resistance. The RSI is currently in overbought conditions, a return to neutral territory is probable if a retrace comes to fruition. Stochastics on the other hand is floating in the upper regions with lots of stored momentum to the downside. A volume climax node is evident; engulfing all previous nodes, bull volume follow through is needed to break resistance confluence. Overall, in my opinion, MATICBTC is likely to come and retest local support; this will allow the RSI to cool off before the next impulse move back and above the 200 EMA. What are your thoughts? Please leave a like and comment, And remember, “Sheer will and determination is no substitute for something that actually works.” – Jason Klatt
MLong
by AzizKhanZamani
BTCUSD Hourly Inverse Head and Shoulders! Hello Traders!, Update on recent BTC developments!, New potential formations on the chart, Hourly Inverse Head and Shoulders! Points to consider, - Potential Inverse head and shoulders - Trend is currently consolidating - .618 Fibonacci acted as support - Price testing neckline - Potential Triple top if price meets calculated target - RSI respecting up trend - Stochs showing upwards momentum - VPVR showing decreasing volume of transactions - EMA’s giving price support Current price action is showing us that bitcoin may be developing an Inverse Head and Shoulders pattern, valid only if price breaks neckline! There are signs in the chart that increases the probabilities of this being and actual Inverse H&S, the trend is currently consolidating after it was found with support from the .618 Fibonacci retracement zone. Price retraced back to the neck line zone as the EMA’s come into play by giving Bitcoin support… The RSI is quite bullish as it is respecting it’s upwards trend. Furthermore, the Stochastics is showing upwards momentum as price comes into the neckline… This formation is only valid if bitcoin breaks the neck line, which has a calculated target near the next local top. The breakout needs to be confirmed with above average volume… Keep in mind that the target could post a potential triple top if bitcoin decides to reverse, so it’s a good area to take profits if this does play out! What are your thoughts on BTC’s recent developments? Is this a potential inverse head and shoulder? Please leave a like a comment And remember, “The obvious rarely happens, the unexpected constantly occurs.” – Jesse Livermore
BITFINEX:BTCUSDLong
by AzizKhanZamani
1 Million? We'll be lucky if we get to 200k...According to fundamentals Bitcoin will become the only monetary and currency system. According to the chart, it will not. Still a great way to become a multimillionaire though. If you want to know how I calculated retracements, I couldn't really find a mathematical pattern. I only noticed that this time (considering 3100 the bottom) and in the last bear market, the price bottomed at the resistance before the big final bubble pump. in this way we can see that the price becomes less and less volatile: every peak is percentage-wise 4.8 times smaller than the latter, and every correction is smaller in percentage (87%, 84%, 60%, 40%...). We'll see if this time reality will bend to the chart pattern, or the chart pattern will rule over reality.
BNC:BLXLong
by PeterFranc
1
AudChfA potential short opportunity on AudChf. Price has been sold off on the Daily time frame and hitting the next key support zone. What I will be looking for is some deceleration and slow down on the Daily chart along with the 4 hour. I would like to see a double bottom pattern form on the 4 hour chart for conformation of a reversal, along with a break and re-test of the 1 hour chart. Before looking to go long I would also like to see it line up with any fib zones for extra confirmation of a trend change. The more confluences the better!
Long
by mattmach
Nose of plane has ended it's descend. Consistent altitude now.Our pilot was able to end Bitcoin's rapid descent into oblivion. She has leveled out now. Altitude is consistently stable. About to ascend once again. This time more feasibly doable. Steady now girl. Steady. Thanks to all who remained aboard and have help our pilot right this plane. Now enjoy your ride. It won't be fast. It may not be exciting. But we'll get there eventually. Safe and sound. Happy holding my crypto friends.
BITSTAMP:BTCUSDLong
by stewdamus