ADA: May Have Potentially Completed Test After Wyckoff Spring
Hi Everyone! Cardano (ADA) may have completed a Test of Support after a Wyckoff Spring event we potentially saw in June, 2023. However, I'm not going to assume this is for a fact the case. Remember, I'm careful not to make flat statements. It's still possible to fall further to around $0.1830. If we do, THAT would be our Wyckoff Spring event in Phase C of MACRO Accmuulation.
What is it we need to see in order to help confirm we have seen a Test of Support after a Wyckoff Spring? We need to see the Red and Blue Lines rise above level 20 in the 12-hour, 24-hour, 2-Day, 3-Day and 4-Day. THEN, I would feel more comfortable saying we did see our Test of Support after a Spring.
I pointed out the Red and Blue lines are already above level 20 in the majority of time frames in the Near Term Group for ADABTC - (Shown Below). So, in that regard, I like what I'm seeing in potential support of a Test of Support event for ADAUSDT.
Yes, it is possible for ADAUSDT to range sideways WHILE BTCUSDT continues falling. Which would mean ADABTC would continue rising. That would be even more bullish for Cardano. If ADAUSDT continues to "range" sideways, I would expect $0.2450 to be our support while ranging sideways.
ADAUSDT Near Term Group (12h, 24h, 2-Day, 3-Day, 4-Day, 5-Day, 6-Day and 1-Week):
ADAUSDT Mid Term Group (4-Day, 8-Day, 9-Day, 10-Day, 11-Day, 12-Day, 13-Day and 2-Week):
The entire Mid Term Group of ADAUSDT suggests we could CONTINUE to see expansion down. If we do continue to see expansion down, that expansion could take the price action down to around $0.1830. So, let's not conclude just yet this is in fact a Test of Support after a Spring. We must be careful not to make a flat statement and wait patiently for the Red and Blue Lines to rise above level 20 and ultimately level 50 in the ENTIRE Near Term Group of time frames.
I hope this publication was helpful. Thank you for your valuable time and please take a moment to click the boost (rocket symbol) in the bottom right of the chart to move this publication higher in the que for others to have an opportunity to see this publication on TradingView.
Happy Trading and Stay Awesome!
David
What is it we need to see in order to help confirm we have seen a Test of Support after a Wyckoff Spring? We need to see the Red and Blue Lines rise above level 20 in the 12-hour, 24-hour, 2-Day, 3-Day and 4-Day. THEN, I would feel more comfortable saying we did see our Test of Support after a Spring.
I pointed out the Red and Blue lines are already above level 20 in the majority of time frames in the Near Term Group for ADABTC - (Shown Below). So, in that regard, I like what I'm seeing in potential support of a Test of Support event for ADAUSDT.
Yes, it is possible for ADAUSDT to range sideways WHILE BTCUSDT continues falling. Which would mean ADABTC would continue rising. That would be even more bullish for Cardano. If ADAUSDT continues to "range" sideways, I would expect $0.2450 to be our support while ranging sideways.
ADAUSDT Near Term Group (12h, 24h, 2-Day, 3-Day, 4-Day, 5-Day, 6-Day and 1-Week):
ADAUSDT Mid Term Group (4-Day, 8-Day, 9-Day, 10-Day, 11-Day, 12-Day, 13-Day and 2-Week):
The entire Mid Term Group of ADAUSDT suggests we could CONTINUE to see expansion down. If we do continue to see expansion down, that expansion could take the price action down to around $0.1830. So, let's not conclude just yet this is in fact a Test of Support after a Spring. We must be careful not to make a flat statement and wait patiently for the Red and Blue Lines to rise above level 20 and ultimately level 50 in the ENTIRE Near Term Group of time frames.
I hope this publication was helpful. Thank you for your valuable time and please take a moment to click the boost (rocket symbol) in the bottom right of the chart to move this publication higher in the que for others to have an opportunity to see this publication on TradingView.
Happy Trading and Stay Awesome!
David
Comment:
UPDATE:
I'm about to get some sleep. I'll cover this tomorrow shortly after I wake up. The "potential" of us being in a period of RE-Distribution for ADA:
I'm about to get some sleep. I'll cover this tomorrow shortly after I wake up. The "potential" of us being in a period of RE-Distribution for ADA:
Comment:
UPDATE:
3-Week (Top Left of Center) and 4-Week (Top Right of Center) still have 10.5 Days remaining before we see a new candle in each time frame. The Green Line and White Energy still falling and Red and Blue suggest potential for Stage-2 Expansion Down approaching. I'll discuss this later after I get some rest.
3-Week (Top Left of Center) and 4-Week (Top Right of Center) still have 10.5 Days remaining before we see a new candle in each time frame. The Green Line and White Energy still falling and Red and Blue suggest potential for Stage-2 Expansion Down approaching. I'll discuss this later after I get some rest.
ADABTC Short Term Group:
ADABTC Near Term Group:
ADABTC Mid Term Group: