Important things to note:
BTC is cooling off. I do not see it going much lower.
ADA started its flagging continuation.
Price broke out of last flagging pattern.
ADA created a smaller flag for continuation of uptrend
Price target from smaller flag is 2.59.
This coincides with our last target of 2.62.
We now have a general idea of where the price is headed.
I have noted the hidden divergence I saw.
Important dates:
BTC ETF Deadlines Nov. 21, Dec. 8, Dec. 11 and Dec. 24.
I am going to make this quick because the update is pretty self explanatory. Right now BTC is cooling, but I do not see it going past 53k before it starts moving up again. ADA has broken out of our last pattern with a classic 3 drives pattern and has now created a smaller flagging pattern. The target from the smaller patter is 2.59. This is measured by the size of the pole added to the top of the pole. This target coincides with our last target of 2.62. The target from the smaller flag is 2.59. If the pattern does not break, this is the general area the price is heading to. If the price breaks, it will head towards a support of 2.15 or 2.03 etc. However, since we have bullish momentum and bullish signals, and patterns, we should assume the pattern will complete. I have also noted the hidden divergence I mentioned on my last chart. Remember, try to relax during this time. The momentum of ADA will lag behind BTC, but once BTC hits its ATH and retraces, its time for altcoins to start really moving. For now, expect minimal gains, maybe a small pullback and a lot of consolidation. I will continue to keep an eye on ADA and update you accordingly. 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.
BTC is cooling off. I do not see it going much lower.
ADA started its flagging continuation.
Price broke out of last flagging pattern.
ADA created a smaller flag for continuation of uptrend
Price target from smaller flag is 2.59.
This coincides with our last target of 2.62.
We now have a general idea of where the price is headed.
I have noted the hidden divergence I saw.
Important dates:
BTC ETF Deadlines Nov. 21, Dec. 8, Dec. 11 and Dec. 24.
I am going to make this quick because the update is pretty self explanatory. Right now BTC is cooling, but I do not see it going past 53k before it starts moving up again. ADA has broken out of our last pattern with a classic 3 drives pattern and has now created a smaller flagging pattern. The target from the smaller patter is 2.59. This is measured by the size of the pole added to the top of the pole. This target coincides with our last target of 2.62. The target from the smaller flag is 2.59. If the pattern does not break, this is the general area the price is heading to. If the price breaks, it will head towards a support of 2.15 or 2.03 etc. However, since we have bullish momentum and bullish signals, and patterns, we should assume the pattern will complete. I have also noted the hidden divergence I mentioned on my last chart. Remember, try to relax during this time. The momentum of ADA will lag behind BTC, but once BTC hits its ATH and retraces, its time for altcoins to start really moving. For now, expect minimal gains, maybe a small pullback and a lot of consolidation. I will continue to keep an eye on ADA and update you accordingly. 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.
Comment:
If you want to keep track of the latest flagging pattern, look at it on the 1H chart.
Comment:
If you take a look at my SOL example from yesterday, you can see that the bottom of the handle is starting to form in which the double bottom was the catalyst. The patterns that form are beautiful considering the entire ecosystem is connected, and the ability to spot the signals, patterns ect is very very fun.
That being said, for ADA, after this next push (if it happens), I will be looking for a small pullback.
That being said, for ADA, after this next push (if it happens), I will be looking for a small pullback.
Comment:
ADA is starting to break out of the consolidation pattern now, lets see if it holds.
Comment:
Price was pushed back into consolidation pattern. Which makes more sense because a meaningful movement would require more consolidation. The good news is this helps further define the flagging pattern for us.
Comment:
Hidden bullish divergence on 1H chart.
Comment:
"Desire makes slaves out of kings, and patience makes kings out of slaves."
- Al-Ghazali
- Al-Ghazali
Comment:
BTC is hasn't pulled back yet. Make sure you are preparing yourself. If it does, I don't think it will be major, probably somewhere near its last little consolidation spot. However, it will hurt the alts that have been moving. That will push ADA to its last support where it will have to grind its way up again. This doesn't mean it will happen, just be aware. That being said, I'm going to get some sleep. Goodnight everyone!
Comment:
One more thing, ADA is trying to break out, keep an eye on it, any sign of trouble might mean BTC is failing its upward move and is pulling back.
Comment:
ADA went back into consolidation so that's good.
Comment:
Take a quick look at SOL everyone.
Comment:
ONE cup and handle just finished. FYI.
Comment:
target .3932
Comment:
If BTC breaks 53 expect 51.
Comment:
SEC approved Volt equity ETF. This is a good sign for the BTC ETF.
Comment:
HBAR strong basing patterns.
Comment:
Ok that's it for the updates. I will put out a chart for ADA when there is movement outside of consolidation. Have a good Friday everyone!
Comment:
Once more thing:
Most people think they are going to have to wait until December for alts to start moving. I disagree. There is far more money in ALTs than in 2017. I think it will happen end of November at the latest. You are likely to see some good momentum at the end of October. Unit then, it will be slow growth and consolidation, and a pullback or 2. I could be wrong, but when the "experts" said BTC was going to 38, I said the correction has signaled an end and everything was going to get bullish quick and look where we are... :)
Good luck out there!
Most people think they are going to have to wait until December for alts to start moving. I disagree. There is far more money in ALTs than in 2017. I think it will happen end of November at the latest. You are likely to see some good momentum at the end of October. Unit then, it will be slow growth and consolidation, and a pullback or 2. I could be wrong, but when the "experts" said BTC was going to 38, I said the correction has signaled an end and everything was going to get bullish quick and look where we are... :)
Good luck out there!
Comment:
Have you spotted the divergence in ADA yet? It is far more clear now.
Comment:
This may be an interesting weekend.
Comment:
BTC looks like it wants to consolidate to its previous high. (52762). If it manages to break out before that, I will be surprised. This will cause alts to consolidate further. I expect some nice movement coming from the further consolidation.
Comment:
I have extended the width of the flag to represent the movements. The structure of the flag is fine ATM. Everything looks good. Just a lot of consolidation which is expected. The ADABTC pair doesn't look bad right now either. :) This leg is rather exciting.
That's it for me tonight. I'm out! Goodnight everyone!
That's it for me tonight. I'm out! Goodnight everyone!
Comment:
Hey everyone! I got to watch the new James Bond movie pretty soon so I'm going to be out and about. I am noticing tons of similar patterns between the coins. ADA had yet to create these patterns, (mostly due to the ease of profit booking). That is why the push to 2.60 is so important. Since the flagging pattern is ongoing (you had to look at it on the 1H now the 4H). I expect this level to be hit, if the pattern fails, it will likely fall to 2.15 then bounce. It needs to create the cup, that is the gist of it. A lot of other cryptos are creating their handles at the moment and I am hoping ADA's second half of the cup is formed at the same time as the other cryptos form their second half of the handle. I will probably post later if I see something but now, we are stuck in consolidation. Have a great day everyone!
Comment:
Also, if you want to follow the consolidation pattern of ADA. Look at the 4H chart. I see 2 bottoms so far, you know what to look for by now. On the 3rd, wait for strong buying signals that change the trend.
