ADA Looking like its producing a HS formation.
Proof:
Prior move is Major Intermediate Down Trend
2 M of elapsed Time in the formation
Volume is slanting down.
Fundamentals:
Sundae Swap Impeding Release will cause demand for ADA
ADA has held while other coins have dumped as of yesterday. Seems like tight accumulation
Neck at 3131
Shoulder Peaks at 2600
Going forward:
The Right Shoulder may complete symmetry at 2600. Possible if Sundae is delayed.
Right Shoulder may NOT Complete Symmetry if Sundae Main net is announced.
The RS not going to 2600 is a bullish sing. If you are waiting to accumulate lower you may not get a chance. Any left over funds should be converted @
Entry:
3131 Daily Candle Neck break
When volume is larger than previous 2 days volume from incident of neck break.
Entry price will be higher than 3131.
Stop @ 2990
Targets:
3500
4192
4600
Proof:
Prior move is Major Intermediate Down Trend
2 M of elapsed Time in the formation
Volume is slanting down.
Fundamentals:
Sundae Swap Impeding Release will cause demand for ADA
ADA has held while other coins have dumped as of yesterday. Seems like tight accumulation
Neck at 3131
Shoulder Peaks at 2600
Going forward:
The Right Shoulder may complete symmetry at 2600. Possible if Sundae is delayed.
Right Shoulder may NOT Complete Symmetry if Sundae Main net is announced.
The RS not going to 2600 is a bullish sing. If you are waiting to accumulate lower you may not get a chance. Any left over funds should be converted @
Entry:
3131 Daily Candle Neck break
When volume is larger than previous 2 days volume from incident of neck break.
Entry price will be higher than 3131.
Stop @ 2990
Targets:
3500
4192
4600
Comment:
ADA/BTC is currently at the neckline of 3000-3120 .
Entry is permitted ON daily candle close AFTER the neck and higher volume than prior days. In this case 44M ADA. Eagerly awaiting!
Entry is permitted ON daily candle close AFTER the neck and higher volume than prior days. In this case 44M ADA. Eagerly awaiting!
Comment:
Ada has broken neckline. If you bought the right shoulder at 2600 you are in considerable profit. If you have not entered yet or are waiting to add funds the text book rule is to wait for candle close above neck. The volume requirement has already been satisfied.
The biggest zones of resistance I see are 3500, 4192, and 4600. Although the head and shoulders price target is 3700.
Sundae Swap will release Thur Jan 20th. I imagine this will be a sell the news event. There is a possibility of a sell of Wednesday and a strong possibility on Thursday. This is why taking profit is important. This is my last update before those events take place. Juju out.
The biggest zones of resistance I see are 3500, 4192, and 4600. Although the head and shoulders price target is 3700.
Sundae Swap will release Thur Jan 20th. I imagine this will be a sell the news event. There is a possibility of a sell of Wednesday and a strong possibility on Thursday. This is why taking profit is important. This is my last update before those events take place. Juju out.
Going Forward:
ADA has already broken symmetry with the left shoulder ( TIME wise) AND has bounced off the shoulder area.
Next Step is for ADA BTC to climb to 3000 area and possibly test and break out.
This is entirely possible as long as ADA selling pressure remains low. So far so good considering the BTC/USD market sentiment.