Important things to note:
First, it is very clear very few people share my sentiment on BTC. Time will tell.
ADA has a small head and shoulders pattern which may just represent retracement.
If I am wrong about the correction, we will see a lower low, I believe 1.71 will be hit in this case.
If I am right, we will see a major higher low, and eventually a cross of 50MA.
I have noted all of the important movements on the chart.
I think we have a good chance at bullish sentiment this week.
We had a break of the bearish trendline (blue line).
Important dates:
I will update this soon when I post about the summit.
So we had a break of the bearish trendline, a test of the 50MA, and some retracement. Overall, I am bullish on the market when I look at where I think BTC is heading. I am not bullish for no reason and many of you probably know that. Now, ADA is retracing from the previous bullish momentum. If I am right, we should see a higher low and another test (and eventual cross) of the 50MA. If I am wrong we will see a lower low, which will likely eventually end up at 1.71. The price can only retrace so much if the bullish trend is to continue and I believe it will by what I can see. Again, I do not prescribe to the notion that ADA will hit 100 in a few months nor do I think it will hit .50 or whatever other people are saying. ADA has made a small H&S pattern which may just represent retracement from the bullish momentum we saw previously. I have charted the important price levels on the chart. I will keep this short because really there is not too much to talk about yet. Remember, ADA and other altcoins will lag behind the momentum that BTC creates. We will see what happens with ADA this week. I still think there will be overall bullish sentiment in the market. I will continue to update you all on what I see! Thanks again!!
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.
First, it is very clear very few people share my sentiment on BTC. Time will tell.
ADA has a small head and shoulders pattern which may just represent retracement.
If I am wrong about the correction, we will see a lower low, I believe 1.71 will be hit in this case.
If I am right, we will see a major higher low, and eventually a cross of 50MA.
I have noted all of the important movements on the chart.
I think we have a good chance at bullish sentiment this week.
We had a break of the bearish trendline (blue line).
Important dates:
I will update this soon when I post about the summit.
So we had a break of the bearish trendline, a test of the 50MA, and some retracement. Overall, I am bullish on the market when I look at where I think BTC is heading. I am not bullish for no reason and many of you probably know that. Now, ADA is retracing from the previous bullish momentum. If I am right, we should see a higher low and another test (and eventual cross) of the 50MA. If I am wrong we will see a lower low, which will likely eventually end up at 1.71. The price can only retrace so much if the bullish trend is to continue and I believe it will by what I can see. Again, I do not prescribe to the notion that ADA will hit 100 in a few months nor do I think it will hit .50 or whatever other people are saying. ADA has made a small H&S pattern which may just represent retracement from the bullish momentum we saw previously. I have charted the important price levels on the chart. I will keep this short because really there is not too much to talk about yet. Remember, ADA and other altcoins will lag behind the momentum that BTC creates. We will see what happens with ADA this week. I still think there will be overall bullish sentiment in the market. I will continue to update you all on what I see! Thanks again!!
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.
Comment:
Well it looks like one trader out there saw the same signal I mentioned yesterday. Take a look at this article from 6 hours ago. The trader who saw the same signal I saw was the guy named John Wick. It's nice to know I'm not alone here LOL.
cointelegraph.com/ne...by-a-close-above-44k
cointelegraph.com/ne...by-a-close-above-44k
Comment:
The article also mentions accumulation by long term holders which was something I have mentioned a few days ago. I also mentioned that they are not just accumulating it but moving it to cold storage, meaning they do not see a sell scenario anytime soon. It looks like they also use Glassnode.
Comment:
The big debate will soon be over. I wish I could run a poll on here. Higher Low or Lower Low? I have my answer, what do you think?
Comment:
Ok, its time for bed! My eyes feel like they are bleeding looking at the screen all day. Goodnight everyone!
Comment:
I am waiting to see if I am right or I am wrong. BTC and ETH are almost there, I will know soon.
Comment:
So about once a day, I glance over the crypto news (mostly to entertain myself), but this time I stumbled on something rather gross. The quote goes "The bottom line is that traders should not try to anticipate trend reversals, or even worse, try to improve their average price while losing money." Now while, I semi agree with the second part, the first part of this, I do not agree with at all. The whole point of TA is to anticipate, spot signals, and confirm reversals, continuations, etc. If no one anticipated a trend change, there would be no one who made their fortunes on crypto. The fact that crypto is a holding game is a testament to the fact that you should anticipate trend changes, just don't trade on anticipation.
That being said, there is a TON of bearish news and sentiment flying around and usually, that is a good sign things will improve shortly. I agree that BTC has a long way to go to prove any bullish confirmation, and that there even might be another leg down. But if you know what you are doing, and you know how to defend a position, there is nothing wrong with taking a chance. I don't recommend any of you take on risk, especially if you are starting your investment journey. I always say build a robust portfolio first, then once you have the assets and the knowledge, you can take on more risk. Eventually, you will be at a point where you can make a calculated risk without too much worry because you will know how to manage that risk.
That being said, there is a TON of bearish news and sentiment flying around and usually, that is a good sign things will improve shortly. I agree that BTC has a long way to go to prove any bullish confirmation, and that there even might be another leg down. But if you know what you are doing, and you know how to defend a position, there is nothing wrong with taking a chance. I don't recommend any of you take on risk, especially if you are starting your investment journey. I always say build a robust portfolio first, then once you have the assets and the knowledge, you can take on more risk. Eventually, you will be at a point where you can make a calculated risk without too much worry because you will know how to manage that risk.
Comment:
If the BTC price falls below, 41k, the chances of a higher low will be small.
Comment:
bullish divergence 4hr and 1hr chart ADA, double bottom singnaling higher low and reversal from H%S pattern. Nice wicks on the bottom. BTC is making its move, at the 41K level I was talking about, lets see if it holds. It should push for bullish engulfing on the 4hr BTC before the hour ends.
Comment:
We already got the bullish engulfing we need from BTC 4HR.
LFGGGGGGGG!!!!!!!!
LFGGGGGGGG!!!!!!!!
The last 29k movement (like most others) had people throwing around numbers like 20k, 12k, -1000000k (jk) right before the impulse leg started.
Be greedy when others are fearful, and be fearful when others are greedy.